Fidelity Investments Cuts Jobs in Enterprise Cloud Computing

Posted on 12/31/2019

Asset management giant Fidelity Investments closed positions and cut roles in its enterprise cloud computing (ECC) unit. Around 100 roles within the group were impact, and these include engineers, managers, and cloud technologists. The enterprise cloud unit is tasked to build and maintain a central cloud solution for Fidelity’s different business lines. These job cuts were first announced in October 2019.

The ECC unit operates out of Raleigh, North Carolina; Dublin, Ireland; and the Dallas-Fort Worth metro area in Texas. ECC’s former head, Michael Baker, left in April 2019 to join New York-based MarketAxess Holdings Inc. as chief technology officer. Baker was responsible for Fidelity’s digital and agile transformation to the cloud, allowing the firm to leverage the cloud for innovation, increase velocity, and reduce costs.

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