Business Report: Major investment firm offering buyouts to employees
A major investment firm is offering buyouts to thousands of its employees.
Fidelity Investments has offered buyouts to about 3,000 employees who are at least 55 years old and have been with the firm for at least 10 years.
The Wall Street Journal reports the move comes as Fidelity is looking to adjust to changes in the way people and large firms invest.
Many have shifted billions into low-cost investment products, which cost less over time and have outperformed many actively managed funds.
Fidelity says the packages offer associates who are considering the next phase of their life a generous financial package, and allow Fidelity to provide additional career opportunities for their employees.