US-based financial services giant Fidelity Investments has eliminated 500 positions in India as part of a broader effort to relocate these roles to other Fidelity locations worldwide, according to people familiar with the matter.
The affected roles primarily involve Fidelity Workplace Investing and reflect the firm’s decision to rebalance its workforce across its global sites. Fidelity Workplace Investing is a division of Fidelity Investments that partners with employers to provide comprehensive workplace benefits and retirement solutions.
“Fidelity is continuously evolving its ways of working and footprint to support business priorities. From time to time, our individual businesses may adjust staffing levels,” a Fidelity spokesperson said in an email statement, in response to queries from Moneycontrol.
Fidelity Investments operates a Global Capability Center (GCC) in India, which includes offices in Bengaluru and Chennai, with an employee headcount of about 7,000. These centers support their global operations by providing services across technology, operations, analytics, and research.
“We are still hiring talent in various regions, including India, to ensure we continue to provide the best products and services for our customers. Fidelity is committed to maintaining its current headcount in India and to its presence here, as it has for more than 20 years”, the spokesperson added.
GCCs are offshore offices or subsidiaries set up by multinational corporations (MNCs) to handle various business processes and services.
The internal reshuffle comes as global firms reassess their talent distribution amid changing trade, technology, business, and macroeconomic conditions.
Many US-based and other companies have laid off thousands of employees and made many roles redundant in the wake of Generative Artificial Intelligence (Gen AI) and massive adoption of the nascent technology.
In 2025 alone, over 80,000 tech employees were laid off in over 160 tech companies, according to tracker portal Layoffs.FYI. In 2024, almost 1.5 lakh tech employees were handed pink slips in about 550 tech companies.
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