US' Fidelity Investments fires 700 staff in first job cut in 7 yrs

US-based Fidelity Investments has fired about 700 employees, affecting less than 1% of the company's total workforce, in its first headcount reduction in seven years. "While difficult, this decision better positions us for evolving needs of our customers," a Fidelity spokesperson said. Fidelity is still hiring and has almost 2,000 open roles for "critical business areas", the spokesperson added.