LAYOFFS: IS THE HANDWRITING ON THE WALL AT FRANKLIN TEMPELTON & LEGG MASON?

Am I Next? Employees at risk as Franklin Templeton acquires Legg Mason.

San Mateo, California-based Franklin Resources, a major asset management and investment advisory firm, has disclosed its intention to acquire rival Baltimore, Maryland-based Legg Mason, an investment and asset management firm for $4.5billion, at the behest of activist Nelson Peltz’s Trian Partners.

Franklin Templeton plans to cut around 8% of its combined workforce after the acquisition closes. Approximately 800 employees will be immediately impacted.

Like all such acquisitions, look forward to more restructuring, elimination of duplicate functions, consolidation of operations, and the type of cost-cutting that drastically affects headcounts.

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 FISERV

Am I Next? Headcount reduction at Fiserv.

Brookfield, Wisconsin-based Fiserv Inc., a financial services company and payments processor, has announced that it will lay off 102 employees, mostly customer service personnel, located at the company’s offices in Dublin, Ohio. It is believed that this is part of the organizational integration with First Data Corp. which it acquired for $22 billion. Many believe that the Dublin office is slated for closure and that the company will transition its headquarters to Milwaukee, Wisconsin.

Since private-equity giant KKR owns a significant holding in the merged company, look for management pressure to reduce costs, headcount, and duplicative functions.

It is believed that office closures and significant reductions in headcounts will be announced mid-March 2020.

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 EVO PAYMENTS INTERNATIONAL

Am I Next? EVO Payments International consolidates operations.

Atlanta, Georgia-based EVO Payments International, a global provider of electronic payments processing services, has announced that it will layoff 139 employees at its Portland, Main offices throughout 2020. It appears that  the decision was driven by the company’s desire to consolidate operations at its Dallas, Texas facility. It is believed that a small datacenter and about 10 employees may remain in Portland.

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?