Fidelity Investments has fired about 200 employees

[left-of-center2012]

Fidelity Investments has fired about 200 employees who were accused of abusing company benefits, according to a person familiar with the matter.

Fidelity had a program which reimbursed workers for 20 percent of the purchase of computer equipment up to $10,000. An audit found that some employees returned the equipment without reporting it, keeping the reimbursement allowance, said the person, who declined to be named.

“We have a culture of compliance and integrity at Fidelity,” spokesman Vincent Loporchio wrote in an emailed statement. No customers were affected by the actions, he said.

Many of the employees who were dismissed worked in the firm’s brokerage unit. The company became aware of the problem last year, the person said.
The Wall Street Journal reported on the employee dismissals Friday.

Fidelity, based in Boston, has more than 40,000 employees and manages $2.4 trillion in assets.

https://www.bloomberg.com/news/articles/2018-05-07/fidelity-is-said-to-fire-about-200-workers-for-abusing-benefit

[BSdetect]

1. Greed is contagious.

[democratisphere]

2. It is never enough for some. Greed and corruption has resulted in their loss

of a great job with most likely insane benefits. Idiots!

[Blue_Adept]

3. 0.5% of the employees then

Fidelity is a huge company (I worked there for five years in one of their startups, FESco) and they do generally run a pretty tight ship. Stuff slips through and in the decade or so since I've been there I imagine it's only gotten more complicated. Not surprised they dropped the hammer on those that abused their programs. They do a lot of good stuff for employees to get ahead and invest in them. Screw the company and they're done with you.

[MicaelS]

4. The article is unclear.

We're these computer for use at home or at work?

[Major Nikon]

5. I'd guess home or perhaps laptops used at both

Many large companies have similar programs for both hardware and software. The idea being it encourages employees to work at home, usually off the clock for the company's benefit without having to provide them with laptops on the company's dime.

Many people I work with take advantage of a similar program. Personally I refuse to do the company's work on my time so I never use it.