Fisher Investments, who is in a non-safe industry if you're hoping to keep your job, has decided to throw 50 people back into the job pool. This is in Canada and is additional to the estimated cut of 100 other staffers in the company.
Looks like the market has taken a toll on him and his investors, so they are likely to remain rich, but may be a little less spendy out there for the short term as they absorb these losses. As you saw in big ticket items and other areas catering to very wealthy individuals, they are seeing the recession this time too. That tells you that the recession is either deep, expected to be long lasting, or both.
This company used to manage almost $50 billion and now down to $30 billion. I would venture to say some of that would be market losses and others by redemption due to those market losses. With less money and clients to manage, layoffs were inevitable.
Related:
Lost Golden Boys: Goldman Sachs to cut 10%
LowFi: Fidelity Back at "It", Further Reductions
Another One Bites The Dust: PCS Financial Bankrupt...
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More information on this layoff is available from the stockvalues blog
I'm a Fisher employee, so I can tell you this isn't right. Besides there being *no office* in Canada, this post is based on an article from the Columbian that also had a lot of misstatements. They didn't quote anyone from the company, just outsiders, so there was a lot of conjecture. The confusion is probably from a simple misreading of a filing required by the state. This is a pretty common error, and it's probably the same for other companies, so you should be careful when reading such rumors.
Its probably right that a bunch of people misunderstood a state filing which led to the errors. If the NY Times can print a fake letter from the Mayor of Paris, you really can't believe anything you read. I do know the blog SkiBlogger points to is basically a guy who admits he is under a legal action for defamation for making a bunch of misstatements so I doubt that source is very credible. If you can read your way through the blog it seems like its 2 or 3 people annonymously posting back and forth at each other hoping they seem like more people. Sad. But that's probably how most blogs work.
To improve the business there is a very simple thing that you have to do that is advertisement.
There's a very simple thing that you have to do when you want to improve your business, that is advertisement.
Benjamin
Outsources BPO & Call Centre.
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