AM I NEXT? NO LOVE AT CREDIT SUISSE SECURITIES

New York-based Credit Suisse Securities (USA), operating as an investment banking company offering strategic financial consulting,, wealth and asset management, capital raising, and private banking services., has announced the layoffs of employees located in its New York office.

According to a bank spokesperson, the decision was driven by the $5.5 billion in losses from the collapse of Archegos Capital Management.

The first permanent layoff of 69 employees will occur on March 6, 2022.

Additional layoffs associated with the closure of the company's U.S. prime services division, its prime brokerage businesses which it acts as a large lender to trading firms like Archegos, are scheduled for August 1, 2022.

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 FRANKLIN TEMPLETON (02/18/25)

FEBRUARY 18, 2025 — 300 EMPLOYEES TARGETED

The company is laying off 3% of its personnel, or approximately 300 employees companywide, after months of significant outflows from its bond subsidiary Western Asset Management following charges from the Department of Justice and the SEC.

According to a spokesperson, “To continue to invest in our long-term growth initiatives and evolve for the future, we need to find savings and remain focused on our effectiveness and efficiencies.”

DECEMBER 17, 2021 — Original post…

San Mateo, California-based of Franklin Templeton, a major investment advisors and asset managers has announced the continuation of its restructuring and cost-cutting activities and will be laying off 175 employees, including 117 client representatives and client specialists in its Saint Petersburg office. Layoffs are scheuled by January 31, 2022.

The decision was driven by the cost savings that will accrue from outsourcing some operations to Jacksonville, Florida-based FIS, a third-party financial technology-based processing and payments company.

According to a company spokesperson, "The decision was made in part because of its purchase of the investment firm Legg Mason. We have made it a priority to move the combined firm to a single transfer agent platform, which will allow financial professionals and fund shareholders to purchase and exchange all of our funds with ease.”

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 KELLER MORTGAGE

Dublin, Ohio-based Keller Mortgage, the lending arm of the nation’s largest real estate franchisor by agent count and an automated originator of mortgage loan programs, has announced that it will be addressing the over-hiring issue that saw the rapid expansion of its workforce and payroll by laying off 150 new recruits, approximately one-third of its newly hired associates. Many of whom were remote workers.

According to a company spokesperson, the hiring program “was a way to support significant anticipated business volume and cultivate talent within Keller Mortgage to create a pipeline of future experts who would be trained for more independent and specific roles in mortgage fulfillment, like processing, underwriting, and closing.”

“When we make really tough decisions that affect people, it doesn’t come without serious consideration and contemplation. This decision was difficult for everyone because it involved people — their jobs, careers, and lives. We don’t take that responsibility 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?