Fidelity Marlborough Offices Will Close, Affect 1,100 Jobs

Fidelity Investments announced plans to phase out operations in Marlborough by 2012. The company currently employs 1,100 people in Marlborough, according to Fidelity Investments Spokesperson Vin Loporchio.

When the offices close, many of the Marlborough employees will be provided the opportunity to relocate to offices in Merrimack, N.H. and Smithfield, R.I. A smaller number of employees will be offered relocation to Fidelity offices elsewhere in the U.S., and some current employees will lose their jobs, added Loporchio.

“We have a smaller workforce than we had prior to the global economic crisis in 2008, and as a result, have real estate space available in several of our sites. We determined that it made sense to focus and consolidate our New England workforce primarily in three locations – Boston, Merrimack and Smithfield,” he said.

The news from Fidelity is disappointing, said Mayor Nancy Stevens. “This is going to have a ripple effect on Marlborough – in the restaurants, gyms, grocery stores and other services Fidelity employees use. You can’t have 1,100 people leave town without that affecting the community."

During the next few months, Fidelity should roll out a timeline on when people will be leaving. As of right now, the city does not know Fidelity’s plans on whether the company will lease or sell the office spaces, which must be decided before plans can move forward to fill the vacancies, according to the mayor.

Fidelity currently employs 8,400 people across Massachusetts and 37,000 worldwide.

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