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February 1, 2008

Fidelity to lay off 250 workers

BOSTON -- Fidelity Investments plans to lay off about 250 people as part of a restructuring and merger of some of the mutual fund giant's units.

A spokeswoman for Boston-based Fidelity says about 100 of the jobs being lost are in Massachusetts with the rest spread out across the country.

The layoffs are in the company's technologies division and two merging units that handle 401(k) plans, savings accounts and health care arrangements for corporate clients.

Spokeswoman Ann Crowey says the layoffs are not part of a companywide policy.

Fidelity still has about 46,500 employees, including 12,700 in Massachusetts.

The company has about $1.6 trillion in assets under management.

Fidelity has Rhode Island offices in Smithfield and Providence.

-- The Associated Press

Posted by Jack Perry  at 9:08 AM | Permalink

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