Fidelity cuts 500 jobs in India, relocates roles

Fidelity cuts 500 jobs in India, relocates roles

US-based financial services giant Fidelity Investments has eliminated 500 positions in India as part of a broader effort to rebalance its global workforce, according to sources familiar with the matter. The affected roles primarily involve Fidelity Workplace Investing, a division that partners with employers to provide comprehensive workplace benefits and retirement solutions. This decision reflects the company’s ongoing efforts to adjust staffing levels in response to evolving business priorities [1].

Fidelity operates a Global Capability Center (GCC) in India, with offices in Bengaluru and Chennai, employing nearly 6,500 people. These centers support the firm’s global operations by providing services across technology, operations, analytics, and research. Despite the layoffs, Fidelity remains committed to maintaining its presence in India, having been in the country for over two decades. The company continues to hire talent in various regions, including India, to ensure the provision of the best products and services for its customers [1].

The layoffs come amidst a broader trend of global firms reassessing their talent distribution in response to changing trade, technology, business, and macroeconomic conditions. The tech industry has been particularly affected, with over 160 tech companies laying off more than 80,000 employees in 2025 alone, according to Layoffs.FYI. This trend highlights the human impact of layoffs and the challenges posed by the adoption of Generative Artificial Intelligence (Gen AI) and automation [2].

Fidelity’s decision to relocate roles to other locations worldwide is part of a larger strategy to optimize its global footprint. The company has been continuously evolving its ways of working and adjusting its workforce to support business priorities. As businesses continue to embrace AI and automation, many companies are reassessing their talent distribution and workforce management strategies [1].

References:
[1] https://www.moneycontrol.com/technology/fidelity-investments-cuts-500-jobs-in-india-amid-global-role-shift-article-13307407.html
[2] https://techcrunch.com/2025/07/16/tech-layoffs-2025-list/