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Fidelity Investments on Tuesday laid off 760 employees, or just over 2 percent of the mutual fund giant's total work force, citing a slowing economy and market instability.

Jobs being cut range from senior vice presidents to administrative assistants in offices around the country. The workers will be kept on payroll for two months, will be eligible for year-end bonuses, will get severance packages, and can use job placement resources.

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