AM I NEXT? IS THE HANDWRITING ON THE WALL AT CXLOYALTY GLOBAL LOYALTY DIVISION

New York, New York-based JPMorgan Chase, a leading provider of banking and financial services, has announced the acquisition of the Global Loyalty Division of Stamford, Connecticut-based cxLoyalty Group Holdings, a provider of loyalty technology and programs.

The deal includes cxLoyalty's leading technology platforms, full-service travel agency, gift card, merchandise, and points bank businesses. The company will integrate the newly acquired operations into the bank's Chase credit cards program.

According to a company spokesperson, "People across the globe want to vacation and travel again, and hopefully, that will become a reality for many in the near future. Acquiring the travel and rewards businesses of cxLoyalty will provide enhanced experiences to our millions of Chase customers once they are ready, comfortable, and confident to travel.”

What this really means is that the bank can do deals with hotels, airlines, and major destination venues to provide exclusive deals to its cardholders.

Personnel disruptions are forecast as "just under half of cxLoyalty’s employees, including Chief Executive Officer Todd Siegel, will move to join J.P. Morgan." An estimated 3,100 employees will be transitioned, with the rest facing layoffs.

The joke going around JPMC is that employees will now receive bonus points instead of actual bonuses.

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 RAYMOND JAMES

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?

AM I NEXT? NO LOVE AT DONNELLEY FINANCIAL SOLUTIONS

Chicago, Illinois-based Donnelley Financial Solutions, a supplier of printing, SEC-filing, and distribution solutions to private and public companies, has announced a reorganization that will impact 225 employees located in Lancaster, Pennsylvania.

The restructuring will see the shut down of offset print production in one facility and the transfer of personnel between the company's three Lancaster, Pennsylvania locations. One facility is expected to be shuttered on April 30, 2021.

According to a company spokesperson, “Recently enacted regulations have decreased the demand for printing and distribution in the mutual fund and variable annuity industry, and as a leader in providing solutions for companies to meet those regulations, we have a responsibility to adapt so we can continue to serve our clients well into the future. These decisions were not taken lightly, nor were they easy to make. We appreciate all the great work our employees in Lancaster have done over the last several decades and we are doing everything we can to support them in this transition.”

Donnelley Financial Solutions was part of a three-way breakup of RR Donnelly by incompetent management and which proved to be disastrous for shareholders as it destroyed much of the company's value. The company faced great difficulty in transitioning between traditional paper printing and electronic communications.

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?