Where Real Estate Gets Its Dirt

Big shakeup at Fidelity MLS Division!

rumors

I’m hearing some loose talk out there. Still trying to put it all together.

Here’s the news…Fidelity MLS is going to consolidate under another Fidelity division, possibly Cyberhomes. Over 10 people have been let go as part of the consolidation.

Looks like Bev Faull is out as General Manager. She is no longer with the company.

OUT
OUT

The group will have a new General Manager, if it’s Cyberhomes I’m guessing the new GM will be John Hensley. John would then be in charge of broker/agent products and MLS products.

John Hensley- New GM of Fidelity MLS division?
John Hensley- New GM of Fidelity MLS division?

All I can say is WOW. Bev put her heart and soul in to this division. But it looks like the powers to be wanted some new blood to bring these guys in to the new year. John is a strong product guy and has been successful at getting some bigger deals done recently. Time will tell.

I’m also hearing that another person who had left the MLS division is now coming back. So any managers out there with former FNRES people, check your inboxes!!

If anyone can confirm any of this email vendor.alley@gmail.com or post a comment.

  3. Bill Thomas

    Its true….Marty is back….Bev is out…as is Bishop.
    Numerous other lay offs from the Division from every department.

  4. Valar39

    won’t say my name but I was one of the people let go from the MLS division of fidelity. Scott bishop, Theresa trout, beverly faul, Rick Murrow, Eric Duld, John MCcabe, Lanie Richardson are the Vp’s and managers that were let go on Wednesday and Thursday 11/19 & 11/20/2008. On that same thursday 15-20 people from all departments were let go some of the names are, Cindy ashmore, Amy vincent, Froggy nelson, Daryl Robinson, and 2 members from the product team and 4 members from the QA team.

  5. Pingback: Fidelity Shake-Up Rumors Confirmed « Vendor Alley

  6. From the Trench

    Wednesday, behind closed doors, Beverly Faul, Rick Murrow, Scott Biship, Theresa Trout were let go.

    Marty Reed was seen walking the halls, saying hello to some of the hard working personal of Fidelity MLS.

    Early Thursday morning Marty’s name tag was on the wall outside her old office. Jim Hensley’s name tag was outside Bev’s door.

    Eric Duld was seen being walked out of the building. Teams of people pooled in their respective areas. Each group wondering, fretting, where will the blade land next. Who else will get the gift of unemployment. The one thing they could agree on what they they just wished it would end now. The long drug out wait was becoming unbearable as no one could focus on their work. Some frantically tried to call home to stop their loved ones from spending money. Other packed their belongings – determined that if they survived the day, they would leaving nothing personal on their desk. This was no longer a positive work environment, but just another job. Resumes were polished and plans to leave were made by all. Everyone felt betrayed. There had been a 10% cross the board pay cut just months before. Before that the 401K match was lost. Benefits doubled in cost, yet the coverage seemed to decrease.

    Around 11:30am, with a smirkish smile on his face, Jay Gaskil slashed the jobs out from under Amy Vincent,Clint “Froggy” Harris, Daryl Robinson, John Hollandsworth, Keith Umsted, Sean Stickline, Mike Hassler, Bruce Turner,Kevin Redmen, Timothy Johnson, Heather Bendfledt, Dennis Ewing, and Cindy Ashmore. He told those lucky numbers not to blame their managers, but to blame him, then, looking like someone who just won a award, strutted out of the room.

    After that, we got our walking papers, some people gathered a few belongings from our desk, and we were shown the door. We were allowed to come back at 5:30pm to pick up the rest of our belongings. Everyone left feeling sick. Tears were in the eyes of those that left as well as those that remained.

    I can tell you I’ve all kinds of rumors as to why each person was let go. From bad attitudes to cooked books – it’s all there. I’ve even heard rumors as to why some people remained – nothing new in any of the cases. Say what you will about each of us. Accuse us behind our backs or to our faces the ending will be the same. I don’t know who I feel more sorry for…those that stayed or those that left.

  7. From the Trench

    Fidelity MLS is going to consolidate under another Fidelity division, possibly Cyberhomes–

    Yeah…they merged. Fidelity MLS has taken on Cyberhomes 200M+ debt as well as their name. Rumor mill has it that on 11/21/08 everything that was Fidelity was tossed out…like their staff…and repleaced with Cyberhomes. There are several reasons why this happened, but it boils down to moving the parts of FNRES together as a single unit instead of several different sections. As it was told to us before the axeman cometh… Fidelity’s profits belong to the Mother Company and the Mother Compaines debt belongs to Fidelity.

  8. Valar39

    it was erroneously reported that John McCabe was one of the managers laid off that was incorrect. He was in the room but was not a part of the lay off. the People that were laid off were the ones that were expendable in the eyes of Bill Gellerstadt and Marty Reed.

  9. From the Trench

    Well that’s good news for McCabe. I can see that. Dennis was from his area wasn’t he? On another note, Forbes reports William P Folley II’s 5 year compentation as FNF’s CEO to be $77.69 million dollars.

    http://people.forbes.com/search?name=&ticker=fnf

    A quick search at Forbes shows several upper managements makeing millions in compensation. I wonder how the small handfull matches just one of them. Not to mention it was said that they had other sites to visit.

  16. Pingback: FNRES kisses its name goodbye! « Vendor Alley

Sponsored By MLS Reset