Fidelity layoffs include 83 from R

BOSTON – Fidelity Investments announced that it is laying off 760 employees, including 83 at its Smithfield, R.I. facility, Bloomberg News reported. The layoffs are a consequence of the stock market slide which has reduced the company’s income from money management and brokerage fees, Bloomberg said. Fidelity employs 32,493 people worldwide. These layoffs constitute a 2.3 percent reduction of its staff. Of the 760 layoffs, 382 were in the brokerage division, 94 in workplace savings plans, 70 in institutional services, plus more than 200 others. Fidelity cut 160 jobs in its institutional services in July and announced plans to eliminate 194 jobs at its wholly owned limousine service, BostonCoach, Bloomberg said. Fidelity’s managed assets declined 17 percent in the last year to $813.1 billion at the end of September, Bloomberg reported.