Fidelity Abandons Small‑Team Agile

Fidelity is reorganizing away from small, siloed 'agile' squads toward larger, centralized teams it says will move faster on priority projects; the change accompanies a simultaneous cut of ~1,000 roles and a pipeline to hire ~5,300 new workers, many early‑career engineers. The firm frames the shift as an execution and speed decision, not an AI one. — If other large firms copy this pattern, it could mark a broad managerial reversal that alters tech labor demand, concentrates decision authority, and reshapes how digital products and governance are scaled in finance and beyond.