Fidelity Investments, which has a major presence in the Triangle, is planning to lay off 200 people, the Wall Street Journal reported Thursday.
Citing a “source familiar with the matter,” the Journal said layoffs would take place in several divisions at the firm, which specializes in mutual funds.
A Fidelity spokeserspon told WRAL.com that the company hired some 500 people in September and "several hundred" in October. While declining to discuss the layoff report, the spokesperson said, "North Carolina’s operation continues to grow." Fidelity has hired more than 4,200 people in the past year, she added.
A company spokesperson told the Journal that Fidelity did not comment on staffing decisions.
Fidelity is undergoing a major reorganization as a company, according to an internal memo sent to employees last month, the Boston Globe reported.
In August 2006, Fidelity announced plans to invest $100 million and add as many as 2,000 employees at its RTP operation. The campus is expected to be finished in 2009.
Fidelity employs more than 44,000 people and has more than $1.5 tillion under management. It is the largest mutual fund firm in the U.S. and has more than 23 million clients.