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Cost-cutting era to save business

Software Engineer
Former Employee
Worked at Fidelity Investments for 1 year
November 30, 2020
Merrimack, New Hampshire
2.0
Doesn't RecommendNegative OutlookDoesn't Approve of CEO
Pros

None that I know of.

Cons

Cost-cutting practices are causing many people in America to lose jobs. This company is onboarding more employees in countries where the dollar-to-local currency margin is more favorable.

This is not employee-friendly.

All software services are governed by third-party consultancies, and there is always a lack of proper targets. The consultancies want to extend projects. As part of cost-saving measures, they onboard employees through different countries where the dollar-to-local currency margin is higher. Once there are more customers in America, they will move the consultancy people and onboard them here. This is the practice being followed.

I have 401(k) with Fidelity. I cannot trust the company with my money. End of story!

Advice to Management

Practice what you preach, respect for the employees.

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