AM I NEXT? NO LOVE AT MASTERCARD

Purchase, New York-based Mastercard, a multinational provider of payment card services, has announced a restructuring that will include plans for a 4% reduction in its global workforce.

The reduction will impact approximately 1,500 employees.

According to Chief Financial Officer Sachin Mehra's earning call...

These actions will impact approximately 4% of our full-time employees globally. We expect these actions will free up capacity to further invest in our strategic priorities and best position us to continue to execute on our growth algorithm.

The fundamentals of our business remain strong. The macroeconomic environment remains supportive with balanced job markets across the globe, underpinning healthy consumer and business spending. That said, there continues to be ongoing geopolitical and economic uncertainty. We maintain a disciplined capital planning approach and have levers to pull if needed.

But most importantly, we are focused on the execution of our strategy, positioning ourselves for long-term growth and remaining innovative and differentiated. Coupled with our diversified business model, this creates resiliency, helps us navigate diverse environments just as we have done in the past. We remain positive about the growth outlook and our base case for 2026 continues to reflect healthy consumer spending.

Our consistently solid performance is driven by several factors. First, we are focused. Our strategy is clear, and we're executing against it. We're making strong progress against each of our strategic pillars and benefiting from the virtuous cycle across our payment network and services offerings. Second, we're innovative and agile. We spearhead the payments evolution. At the same time, environments shift, customer needs, technology, regulation, so we adapt and we prioritize ensuring we have the right capabilities and skill sets.

Recently, we completed a strategic review of our business. This will result in reductions in some areas and roles but lead to further investment and increased focus in others. And finally, we're diversified and differentiated. Our business extends across geographies, spend categories and payment adjacencies. The diversification of our business means we benefit from a wide range of growth drivers, which make us more resilient.

As we enter 2026, geopolitical and macroeconomic uncertainty persists. We will continue to monitor and work to navigate just as we have successfully done in the past. But for now, we remain optimistic and confident in our execution and the fundamentals of our business.

Separately, based on the recent strategic review of our business, we expect to record a onetime restructuring charge in Q1 of approximately $200 million. This will be recorded as a special item and is excluded from our non-GAAP metrics.

Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT PIONEER CREDIT RECOVERY

Arcade, New York-based Pioneer Credit Recovery, a subsidiary of Navient Corporation that specializes in collecting defaulted government debts, including federal and state loans and taxes, has announced a contract loss, leading to a reduction in force in Moorestown, New Jersey.

The contract loss will impact 180 employees, commencing on March 31, 2026, and including 94 call center workers, 48 caseworkers, 29 managers, and 4 administrators.

Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT MERCEDES-BENZ FINANCIAL SERVICES

Sandy Springs, Georgia-based Mercedes-Benz Financial Services, the captive financial arm of Mercedes-Benz Mobility AG, providing specialized financing, leasing, insurance, and mobility solutions for Mercedes-Benz car and van customers and dealers in various countries, has announced a major reduction in force as it relocates it headquarters and operations from Farmington Hills, Michigan, to Sandy Springs, Georgia.

The relocation will impact 157 employees, out of 265 who chose not to relocate or who accepted other jobs within the organization.

According to a company spokesperson, "We are deeply appreciative of the years of support from the metro Detroit community and the contributions of our talented team members. Mercedes-Benz is providing full support to all affected employees, whether they choose to make the move to Atlanta or not."

Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?