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Fidelity to axe hundreds of jobs in the UK

Fidelity International is cutting several hundred of jobs across its UK business by the New Year as conditions deteriorate in the financial services sector.

A fresh set of redundancies will be confirmed after Christmas following a consultation process with employees.

A spokeswoman for the firm said: “Due to prevailing market conditions we have been reviewing our costs across the businesses and unfortunately this has led to some redundancies, of which there will be several hundred.”

Fidelity International employees 5,000 people, of which 2,100 are in the UK.


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Copious column inches over the past weeks and months have attempted to explain the reasons for the financial crisis, assess just how long it might last, chart the way out and, of course, speculate over what the catalysts might be to allow this improvement to occur. For our part, we certainly are in no doubt that the current situation facing economies, their governments, fund managers, financial advisers and clients alike is arguably the most serious in a generation.


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