Fidelity Cuts 760 Jobs Amid Stock Slide

Fidelity Investments, the biggest U.S. mutual fund company, is firing 760 employees as the stock market’s 19-month slide reduces money management and brokerage fees.

Boston-based Fidelity said the cuts amount to 2.3% of its work force. Its assets declined 17% in the last year to $813.1 billion at the end of September. The brokerage unit, where average daily trading fell 37% in the third quarter, accounted for half the job cuts.