Fidelity to cut 1,700 jobs in 2nd round of layoffs

November 14, 2008 1:46:06 PM PST
Fidelity Investments will eliminate 1,700 jobs early next year in a second round of cuts at the nation's largest mutual fund company. Boston-based Fidelity said last week that it would eliminate nearly 1,300 jobs this month in the first round, with plans to make further unspecified cuts early next year.

On Friday, Fidelity spokeswoman Anne Crowley said the second round would involve 1,700 jobs to be cut during the first three months of next year.

Together, the two rounds involve 3,000 workers, or about 7 percent of Fidelity's work force of more than 44,000.