Fidelity International, also known as FIL, is set to reduce its workforce by about 20 positions in its China operations, amidst a broader wave of global layoffs. This decision affects the company's wholly-owned China unit, which is a significant player in the country's $3.8 trillion mutual fund market. The layoffs represent a 16% reduction of the current staff, which totals 120 employees. This move could potentially hinder Fidelity's expansion plans within the Chinese mutual fund sector. FIL was spun off in 1980 from the Boston-based Fidelity Investments.
Exclusive: Fidelity International plans to cut 16% of China fund unit jobs https://t.co/s1MOgiqjDx
Fund manager Fidelity International (FIL) is planning to lay off 20 people at its wholly-owned China unit, which currently employs a staff of 120. (FIL was the former international investment arm of Boston-based Fidelity Investments before it was spun off in 1980.)… https://t.co/MlX7bM2eBQ
Fidelity to cut about 20 positions in China, a move that could potentially slow its expansion in the $3.8 trillion mutual fund market https://t.co/gOLaSWjr9d via @markets
FIDELITY CONSIDERS ELIMINATING 20 JOBS IN CHINA AMID GLOBAL LAYOFFS-BBG
Fidelity to cut about 20 positions in China, a move that could potentially slow its expansion in the $3.8 trillion mutual fund market https://t.co/SVEC54pUMA
Exclusive: Fidelity International plan to cut 16% of China fund unit jobs, sources say https://t.co/JRHvjxpF6f https://t.co/BXDEyDHEpT