Saint Petersburg, Florida-based Raymond James, a financial services company providing advisory services, asset management, and investment banking services, has announced a reduction in force, approximately 500 employees, or 4% of the workforce.
According to Chairman and CEO, Paul Reilly, "Heading into 2020, we were focused on improving efficiencies to prepare for potential market turbulence and recessionary environments. We were not anticipating a pandemic and the corresponding economic conditions and rate cuts that effectively wiped out half our earnings."
"We understand what this means for those impacted and their families, and for almost all of us, it means parting ways with valued colleagues and friends. While 5 percent or higher job cuts may be an annual exercise at many firms, at Raymond James any reductions are rare and are never taken lightly.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?