Reuters logo
Fidelity to cut nearly 500 printing and mailing jobs
July 10, 2014 / 2:50 PM / in 3 years

Fidelity to cut nearly 500 printing and mailing jobs

BOSTON (Reuters) - 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.

A pedestrian walks past a stock ticker at a Fidelity Investments office in Boston, Massachusetts July 31, 2013. REUTERS/Brian Snyder

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below