AM I NEXT? NO LOVE AT TRUIST FINANCIAL CORPORATION

Charlotte, North Carolina-based Truist Financial Corporation, an American bank holding company formed in December 2019 by the merger of BB&T and SunTrust Bank, has announced the cessation of sales and trading of mortgage-backed securities and government bonds by January 2024.

The change in product line operations targeted approximately 80 layoffs in its Atlanta, Georgia, and Memphis, Tennessee, offices

According to a company spokesperson, “Truist Securities regularly assesses opportunities for our organization and makes adjustments to our business to invest in areas for growth. We made the decision to exit certain aspects of our fixed income sales, research, and trading business by January 2024, and will work closely with our clients to support them during this transition.”

“Truist continues to assess and adjust the size of our workforce on an ongoing basis. We’re hiring in some areas and rightsizing in others through natural attrition and planned staffing reductions.”

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. We see good people being laid off through no fault of their own. 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 LENDINGTREE

Charlotte, North Carolina-based LendingTree, an online comparison website that connects consumers with select financial institutions, has announced a 13% reduction of its workforce to reduce operating costs.

The reduction will impact approximately 163 employees.

As per an SEC filing, "On March 24, 2023, LendingTree committed to a workforce reduction plan that is intended to reduce operating costs. The Reduction Plan includes the elimination of approximately 13% of the Company’s current workforce. As a result of the Reduction Plan, the Company estimates that it will incur approximately $5.6 million in severance charges in connection with the workforce reduction, consisting of cash expenditures for employee separation costs of approximately $4.6 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $1.0 million."

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. We see good people being laid off through no fault of their own. 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 ASPIRATION

Los Angeles, California-based Aspiration, a financial technology company offering sustainability-as-a-service involving carbon credits, has announced a restructuring initiative.

The restructuring will impact approximately 180 employees, including remote workers in St. Louis, Missouri. Layoffs will occur between May 26, 2023, and June 1, 2023.

According to a company statement, the decision was "necessitated by the need to streamline and restructure the business in light of current economic conditions and limited capital available to the Company."

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. We see good people being laid off through no fault of their own. 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?