Mfmarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week, here are some Web exclusives you missed:
* Fidelity Investments is planning to lay off approximately 3,000 employees sometime this month, according to a source close to the company who wished to remain anonymous. It is unknown what divisions will be targeted, but it is likely that the company's personal investment centers, call centers and marketing department will be hit hardest, the source said. As is the case with many firms, call volume is way down, according to the source. Also, there may be overlap within the marketing department that would lead to layoffs there, the source said. A Fidelity spokeswoman denied the rumor and said the company is not planning to make any staff cuts at this time.