BOSTON, July 10 Fidelity Investments, the No. 2
U.S. mutual fund company, told employees this week it will cut
about 460 jobs, or 1 percent of its workforce, at its printing
and mailing operations in Kentucky and Texas.
Boston-based Fidelity is moving the work to a third-party
provider, Broadridge Investor Communications Solutions, the
company said in a statement issued on Thursday.
Fidelity said it decided to outsource the work because more
customers are receiving their statements and other
investment-related materials electronically.
(Reporting by Tim McLaughlin; Editing by Dan Grebler)