LAYOFFS: NO LOVE AT CRESCENT BANK

New Orleans, Louisiana-based New Orleans-based Crescent Bank and Trust, specializing in providing auto loans to consumers across 32 states, is continuing its restructuring plan to consolidate loan origination and operations under one roof in Louisiana, and then move operations to Dallas Texas. The move is scheduled for early 2020.

According to the company, it will be shuttering its Chesapeake, Virginia call center and shifting 180 positions to Dallas, Texas. As part of the transition 30 additional jobs, including 10 IT positions, will also move to Dallas to support call center operations.

According to Crescent’s Chairman and CEO, Gary Solomon, Sr., “We sincerely believe that having all loan servicing employees under one roof and reporting to one leader is essential to our long-term success. We are confident that it’s the best place for many reasons, including being an area that has a high density of experienced resources due to several major competitors in the subprime auto industry being in the area.

In addition to the re-locations, the company has an ongoing telecommuting business where loan origination employees work at car dealerships or from home to further minimize corporate overhead and real estate requirements.

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?

LAYOFFS: NO LOVE AT HOME CREDIT U.S.

Overland Park, Kansas-based Home Credit U.S., a global provider/servicer of proprietary-branded credit card services to Sprint and others has announced that they will be laying off 100 employees in their Overland Park office located on the Sprint Campus. Positions include operations, management, credit, customer relations, sales, information technology, legal, finance, and human resources. The layoffs will commence January 31, 2020, and be phased over the following quarter. Because the company continues to invest in technology, it is possible that the layoffs are technology-driven, but it is still unknown how Sprint's pending $26 billion merger with T-Mobile might affect the relationship with Sprint. A Sprint spokesperson noted that the job action will not affect any Sprint cardholders.

The parent company is Home Credit B.V., an international non-bank financial institution founded in 1997 in the Czech Republic and headquartered in the Netherlands. The parent operates in ten countries including those in Europe and Russia, Kazakhstan, China, India, Indonesia, Philippines, and the United States. The company and focuses primarily on subprime credit card lending and lends to people with little or no credit history.

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?

AM I NEXT? NO LOVE AT LAZARD

Hamilton, Bermuda-based Lazard, an iconic investment bank and financial advisory consultancy with its U.S. headquarters located in New York City, New York, is continuing its reorganization efforts based upon its continuing review.

In announcing the company’s third-quarter results, the company noted that “We conducted a review of our business, which resulted in a realignment that included employee reductions and the closing of subscale offices and investment strategies, most of which were completed during the third quarter of 2019. The employee reductions involve approximately 200 people across financial advisory, asset management and corporate functions. We believe these actions better align the business with changes in the marketplace and create greater flexibility to focus on strategic growth opportunities.”

Ken Jacobs, Lazard CEO, noted “There have been some changes in the macro environment globally, which leads us to believe there’s a better use of resources in other parts of the firm. It’s more matching costs with revenue where the opportunity exists.”

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?