Fidelity soon to lay off in Boston
just got email from friend who works there
word has come down that layoffs are upcoming
uncertain as to numbers, depts, but a certainty
my gut tells me that in the spring and summer, many employers held back in laying off workers
some expected a 2ndHalfRecovery
some wanted to play it safe in case a recovery ensued
now that a recovery is not happening, I expect large shedding of jobs
this will take the housing market down with some clear recognized momentum
in Boston, as financial services go, so goes the residential market
tech used to be king, with Digital, Raytheon, et al
times have changed as mfg has yielded to services
and financial services is the leader, with consulting also
e.g. Fido, StateStreet, brokerage, Hancock, insurance
my own consulting field has dried up
even the stellar field of statistics is seeing job cuts
when a client dies, so goes its consultant
Fido could unleash a flood of property sales
strangely, the Third Harbor Tunnel is keeping bluecollar real busy
pardon my metaphors
/ jim |
