Fidelity Ends Hybrid Work, Requires US Staff in Office Five Days a Week

[Anonymous]

I do think there is value to meeting in person with colleagues, but the problem is that in many workplaces you don’t do that even in the office because the people you actually collaborate with are in other places. I just turned down a job at a FAANG because they have a hard 3 days in office policy, even though the recruiter told me that I wouldn’t have any teammates in my office, and one of the people I spoke to told me she badges in and then leaves straight away, because checking in is monitored, but leaving is not and since she doesn’t work with anyone in that office, there is no reason to stay (and it’s actually harder to work there than at home as you have to find spots to take calls, etc). What a waste of time!

[Anonymous]

Anonymous wrote:Most people have never had a real job is the problem on DCUM.

People who work in bank branch, teachers, nurses, stock exchanges, restaurants, mechanics, retail stores, post office all have set in person hours. No flexibility,

It is normal for a ton of people.

Weird that you think the millions of people working in offices don’t work real jobs.

I agree that plenty of people don’t work in jobs that allow for remote work though. They should probably stay off threads like this, since they don’t have anything relevant to contribute.

[Anonymous]

Anonymous wrote:I do think there is value to meeting in person with colleagues, but the problem is that in many workplaces you don’t do that even in the office because the people you actually collaborate with are in other places. I just turned down a job at a FAANG because they have a hard 3 days in office policy, even though the recruiter told me that I wouldn’t have any teammates in my office, and one of the people I spoke to told me she badges in and then leaves straight away, because checking in is monitored, but leaving is not and since she doesn’t work with anyone in that office, there is no reason to stay (and it’s actually harder to work there than at home as you have to find spots to take calls, etc). What a waste of time!

This is another big part of it. Not only do you get called back but you get called back into a less functional workspace than you have at home.

We are hybrid, thankfully, and I have an office. But even still I leave early some days to avoid PM rush hour and just finish my day at home. And I’m not the only one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a Fed who has been back 5 days for past 14 months, I have no sympathy. Remote and hybrid work are being phased out.

That's not even true. I know multiple people in different companies that are still doing remote or hybrid.

Agree this is not true and I know many people still working remote- myself included. Large contracting company.

[Anonymous]

Anonymous wrote:Stealth layoffs. They are hoping for attrition.

💯

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Fed who has been back 5 days for past 14 months, I have no sympathy. Remote and hybrid work are being phased out.

That's not even true. I know multiple people in different companies that are still doing remote or hybrid.

Agree this is not true and I know many people still working remote- myself included. Large contracting company.

I am hybrid and work in healthcare in an office type role

[Anonymous]

Anonymous wrote:I do think there is value to meeting in person with colleagues, but the problem is that in many workplaces you don’t do that even in the office because the people you actually collaborate with are in other places. I just turned down a job at a FAANG because they have a hard 3 days in office policy, even though the recruiter told me that I wouldn’t have any teammates in my office, and one of the people I spoke to told me she badges in and then leaves straight away, because checking in is monitored, but leaving is not and since she doesn’t work with anyone in that office, there is no reason to stay (and it’s actually harder to work there than at home as you have to find spots to take calls, etc). What a waste of time!

I work for a GSIB and same. They've downsized office space and being on calls all the time with dozens of other people also on calls within earshot is painful. On the rare instances I do collaborate with colleagues in office we get yelled at for disrupting others by speaking in the open workspace. There's like three focus rooms so that's not a viable option most of the time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As a Fed who has been back 5 days for past 14 months, I have no sympathy. Remote and hybrid work are being phased out.

This is the problem with society. It's filled with people like you that are jealous and vindictive of others. No empathy with the flight or experiences that others might be going through. Instead of using it as an opportunity to share concerns that progressive changes in the work place being undone systematically by the capitalist system.

+1

NP who commutes five days a week and has since 2021. I love when people work from home- my commute sucks when they have to come into the office.

And PP who wrote about feds back 14 months full in person- that isn’t the flex you think it is. Many of us have been back for 5 years or never stopped commuting. Grow up.

[Anonymous]

Meh, my job is 100% in person every day, so can't offer any empathy to those that whine about having to do the same

[Anonymous]

Anonymous wrote:Meh, my job is 100% in person every day, so can't offer any empathy to those that whine about having to do the same

I work 70 hours a week and have a lot of empathy for those who have to do the same.

[Anonymous]

The new Fidelity mandate may be a attempt at culling staff. I have one sibling there and another at a different big financial firm. The Fidelity sibling hadn't witnessed much downsizing, whereas the other one said he sees a long list of layoffs eery month.

[Anonymous]

Anonymous wrote:https://www.dailymail.com/yourmoney/article-15779901/wall-street-giant-staff-office-wfh-fidelity-investments.html

20K plus will be "impacted" by the decision. I heard State Farm has done the same as well.

I lost my job at Fidelity 2 years ago because of this. I was hired as a remote employee during covid times. There was no physical office in the area where I lived. Fidelity asked me to go to one of their offices alternate weeks on my own dime. I obviously couldn't agree to it forcing me to quit the company. I was one of the high performing persons but that didn't matter. Policy was policy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.dailymail.com/yourmoney/article-15779901/wall-street-giant-staff-office-wfh-fidelity-investments.html

20K plus will be "impacted" by the decision. I heard State Farm has done the same as well.

I lost my job at Fidelity 2 years ago because of this. I was hired as a remote employee during covid times. There was no physical office in the area where I lived. Fidelity asked me to go to one of their offices alternate weeks on my own dime. I obviously couldn't agree to it forcing me to quit the company. I was one of the high performing persons but that didn't matter. Policy was policy.

I’ve seen this happen at my org recently. We had a manager who was laid back and leadership replaced them with two lackeys who’ve started clamping down on remote work and micromanaging everyone’s work arrangements. They’ve already lost one high performer who wasn’t going to disrupt their life to move closer to the office just to report to hoteling stations. It’s really about money. They don’t give a shit if you’re a top performer. You’re replaceable and even better, replaceable with a cheaper new hire.

[Anonymous]

Anonymous wrote:Stealth layoffs. They are hoping for attrition.

This is the only answer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Right now the job market is very tight and companies have their pick from many people desperate for a job when hiring. If the economy ever switches back to a good market for job seekers, this will be a negotiating point and companies will lose out on the best talent.

That is a big if, considering our current president seems Hell-bent on destroying the economy and has been failing to create jobs.

This truly makes no sense to me. If they are looking to cut costs, they can downsize or eliminate office space. Plus by going remote, they have access to the best talent from across the country rather than only the immediate metro area.

DP. Step 1. cause attrition via forced RTO

Step 2: once right sized, then start allowing WFH again and eventually reduce office space overhead.