July 10, 2014 / 2:35 PM / 3 years ago

Fidelity to cut nearly 500 printing and mailing jobs

BOSTON, July 10 (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.

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)

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