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Two financial services companies with North Texas offices plan to downsize, according to letters they sent to the Texas Workforce Commission. Fidelity Investments will lay off 98 people from its Grapevine office this summer, according to the letters.
Financial firms Fidelity, Forex plan North Texas layoffs | Personal Finance | Dallas News
Forex Capital Markets, LLC, will lay off 56 from its office in Collin County by April. The cost of living here, they've said, is much lower than in New York or Los Angeles.
And land for big, new office campuses is plentiful. Those jobs, officials say, are boons to the local economy because they tend to be high-paying. As a result, though, North Texas' labor market for financial services jobs is almost airtight, meaning companies such as State Farm, Charles Schwab and Fidelity must compete against one another for workers with similar skills.
Fidelity in particular has a large North Texas presence. It has six local offices with more than 6, employees in the state. A Fidelity spokesman said in an emailed statement that the layoffs are part of the company's normal staffing fluctuations.
He wrote that the company will keep its Grapevine office and is continuing to hire for its facility in Westlake.
Employees whose positions are moving to New Mexico will be encouraged to apply for other jobs within and outside of Fidelity, Banker said. Forex spokeswoman Jaclyn Sales said that the company, which allows investors to trade in the foreign exchange market, said its Plano layoffs stem from its exit from the U.
Across the country, Forex is laying off people as part of the move, Sales said. The Plano office will remain open, but she said she didn't know how many employees will be working there. Don't miss out on the conversation. Stay connected with Dallas News on Facebook. Become a Digital Subscriber for unlimited access to all of Dallas News and SportsDay. Your first month is less forex billionaires club facebook a dollar.
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Staff Photographer Financial firms Fidelity, Forex plan North Texas layoffs Filed under Personal Finance at Feb 13 Share Facebook Twitter Email Print This Story. Get Daily Dallas News Headlines Sign Up. Don't miss a story. Like us on Facebook. Get Unlimited Digital Access Your first month is less than a dollar.
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Could Dallas oust New York City as a global financial capital? How D-FW companies like State Farm are using perks to win — and keep — employees. Texas, he added, "remains an important, strategic location for our firm. Forex is set to sell its U. Tags Personal Finance Business Share Facebook Twitter Email Print This Story. Get the Most Important D-FW News in Your Inbox Sign up for our daily email newsletters Get Headlines, Business, SportsDay, and GuideLive.
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