Fidelity To Close Marlborough Campus | 1,100 employees will be impacted
Boston-based Fidelity Investments confirmed Tuesday that it would shutter its Marlborough offices by the end of next year, impacting roughly 1,100 employees.
Vincent Loporchio, a Fidelity spokesman, said some of the Marlborough employees would be offered employment in Smithfield, R.I., Merrimack, N.H., or Boston. A portion of the employees will also be laid off.
"We have a smaller workforce than we had prior to the global economic crisis in 2008," Loporchio said. "As a result, we have real estate space available in some of our sites."
Loporchio also said that Fidelity plans to market the Marlborough property, which is located at 400 Puritan Way, for either sale or lease.
Marlborough Mayor Nancy Stevens said that the news from Fidelity is a big loss for the town.
"With 1,100 employees in a large complex, this is obviously going to have a very big impact on the city," she said. "I wish we could have had an opportunity prior to them making a decision to have a conversation with them."
George Ciccone, executive director of the Marlborough Economic Development Corp., said that Fidelity had not disclosed to the EDC or to his knowledge, to any town officials, that the move would be coming. Officials had heard rumors, he said, but they were not confirmed until news began breaking this afternoon.
"It's very sad," Ciccone said. "We're going to lose that base and those jobs."
Fidelity Investments has 8,400 employees in Massachusetts, according to Loporchio. That is approximately 35 percent fewer than the company had in 2006. They have had several rounds of layoffs in the past several years.
A spokeswoman for the Executive Office of Labor and Workforce Development said Tuesday that Fidelity had not filed a worker adjustment and retraining notification (WARN) with the state, which is required by federal law when employers are planning to close facilities and lay off staff.
Loporchio said in an e-mail that "it's premature to discuss any potential WARN implications now" because the impacted positions "are not relocating from Marlborough for several months or until next year."
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