Fidelity, a leading provider of mortgages, continues to adjust the size of its workforce to face the current pandemic. In Q1 of 2023, Fidelity reduced its headcount by 2%, resulting in a decrease of revenue for the same timeframe compared to last year.
The overall revenue for Fidelity in Q1 of 2023 was $2.474 billion, down from its reported $3.167 billion from the same period in 2022. This quarter’s decrease in revenue could be seen as a direct consequence of the reduction of personnel, taking into account the current market conditions and their impact on the mortgage industry.
Highlights:
• Headcount reduced by 2% in Q1 of 2023
• Total Revenue decreased from $3.167 billion in Q1 of 2022 to $2.474 billion in Q1 of 2023
• Decrease in revenue seen as direct consequence of personnel reduction
• Market conditions and their impact on the mortgage industry taken into account
You can read this full article at: https://www.housingwire.com/articles/fidelity-reports-strong-q1-thanks-to-layoffs/(subscription required)
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