Fidelity Investments: Fidelity International (FIL) is set to eliminate approximately 500 positions at its technology and operations center in Dalian, China, marking the company’s largest job reduction in the region in recent years. The decision, communicated to staff on Monday, reflects FIL’s ongoing effort to enhance operational efficiency.

Established in 2011, the Dalian center employed 574 people at the end of 2023. While the company is streamlining operations, it also plans to introduce new capabilities at the site, though it has not specified the number of jobs that will be created. This job cut comes as part of a broader global initiative where FIL aims to reduce its workforce by 9%, impacting various departments worldwide. Despite the downsizing, FIL remains focused on expanding its mutual fund business in China.