Mutual funds giant Fidelity Investments is expected to begin layoffs, the Wall Street Journal reported on Thursday, citing analysts and people close to the firm.
The newspaper said several employees have been in touch with managers who have been told to start giving workers notice in certain divisions, including information technology and retirement services.
One source familiar with the matter told the Wall Street Journal that 200 employees would be notified of layoffs on Thursday.
Representatives from Fidelity Investments were not immediately available for comment.
Company spokeswoman Ann Crowley told the newspaper Fidelity does not comment on staffing decisions.