Financial Jobs Leaving Mass.: Fidelity’s Mass. workforce shrinking

The Boston Globe reports:

Fidelity Investments has reduced its Massachusetts workforce by more than a quarter since 2006, while cutting its overall global employment by nearly 10,000 jobs over the past few years.

Some of the cuts in the Bay State came because workers were relocated to other Fidelity facilities out of state. Other jobs were eliminated through layoffs and attrition.

Fidelity’s Massachusetts workforce now stands at more than 9,000 workers, down from 13,000 four years ago. Worldwide, Fidelity employs 37,000 people, down from 46,500 at the end of 2007.

The company declined to provide specifics on what portion of the job losses in Massachusetts were due to layoffs or transfers, or what kinds of jobs were cut. Although large layoffs are generally made public, smaller layoffs and transfers are not. The general scope of Fidelity’s job erosion became evident in a Globe review of past employment figures from the company.