Fidelity cutting jobs at facilities in Kentucky and Texas

COVINGTON, Ky. (AP) - A Fidelity Investments spokeswoman says the company plans to cut more than 400 jobs in Kentucky and Texas.

Spokeswoman Tara Peak said in a statement that the company has decided to outsource work currently done at its printing and mailing operations in Covington, Kentucky, and Grapevine, Texas. She said the volume of material printed and mailed has declined significantly in recent years, with many customers now using electronic delivery services.

Peak said about 400 out of more than 4,000 positions at the Covington offices are expected to be eliminated over the next 18 months and about 60 positions would be eliminated at the Grapevine facility.

She said job eliminations likely won't take place until next year.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 266458961 - wkyt.com/a?a=266458961
Gray Television, Inc.