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Fidelity Investments: 3,000 and counting

November 20, 2008

Leading fund house Fidelity Investments will cut about 1,300 jobs later this month, followed by another 1,700 jobs in the first quarter next year.

This means Fidelity is looking at reducing its 44,400 employee-strong workforce by about 7 per cent.

Fidelity Investments, which managed assets worth $ 3 trillion as on September 30, 2008, has seen its assets decline sharply following the meltdown in the stock markets.

Image: A Fidelity Investments investor centre located near the White House, Washington, DC. | Photograph: Chip Somodevilla/Getty Images

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