AM I NEXT? NO LOVE AT INNOVATION REFUNDS

West Des Moines, Iowa-based Innovation Refunds, a service to assist companies in filing for the government's Employee Retention Credit and tax refunds in return for a percentage of the refund, has announced the layoff of 40% of its workforce.

The layoff will impact 155 employees.

The decision was driven by the Internal Revenue Service's moratorium on new ERC filings due to massive fraud within the system. The moratorium will last until December 31, 2023, and the pause will give the IRS time to strengthen its systems and procedures.

According to IRS Commissioner Danny Werfel, "The IRS is increasingly alarmed about honest small business owners being scammed by unscrupulous actors, and we could no longer tolerate growing evidence of questionable claims pouring in. The further we get from the pandemic, the further we see the good intentions of this important program abused. The continued aggressive marketing of these schemes is harming well-meaning businesses and delaying the payment of legitimate claims, which makes it harder to run the rest of the tax system. This harms all taxpayers, not just ERC applicants."

"For those people being pressured by promoters to apply for the Employee Retention Credit, I urge them to immediately pause and review their situation while we look to add new protections and safeguards to stop bad claims from ever coming in. In the meantime, businesses should seek out a trusted tax professional who actually understands the complex ERC rules, not a promoter or marketer hustling to get a hefty contingency fee. Businesses that receive ERC payments improperly face the daunting prospect of paying those back, so we urge the utmost caution. The moratorium will help protect taxpayers by adding a new safety net onto this program to focus on fraudulent claims and scammers taking advantage of honest taxpayers."

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 THE FEDERAL RESERVE

Washington, D.C.-based Federal Reserve, a privately-owned corporation with a quasi-government charter to act as the United States Central Bank, has announced a reduction in force affecting just over 1% of the Federal Reserve's workforce.

Approximately 300 employees will be impacted, primarily affecting technology positions at the central bank’s 12 regional reserve banks.

The decision appears to be driven by the implementation of cloud-based computer software, and positions connected to the payment processing systems which are being consolidated as paper check volumes decline in favor of electronic transactions.

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 JPMORGAN CHASE (08/29/2025)

AUGUST 29, 2025 — 99 EMPLOYEES IN SAN FRANCISCO, CALIFORNIA

In what is described as a routine personnel adjustment, the company has announced that it is laying off 99 employees, including client service analysts, technology staff, credit officers, and others, in San Francisco, with terminations scheduled to begin on October 25, 2025.

According to a company statement, “We regularly review our business needs and adjust our staffing accordingly — creating new roles where we see the need or reducing positions when appropriate. We continue to hire in many other areas and work hard to redeploy impacted employees.”

FEBRUARY 25, 2025 — 121 EMPLOYEES IN JERSEY CITY, NEW JERSEY

The company has announced 2025 plans to lay off approximately 1,000 employees starting this month. \

According to a company spokesperson, "We regularly review our business needs and adjust our staffing accordingly – creating new roles where we see the need or reducing positions when appropriate. This is part of our regular management of the business and impacts a very small number of employees."

In May 2025, 121 employees at its Jersey City, New Jersey offices will be laid off.

JUNE 7, 2023 — Original post…

New York City, New York-based JPMorgan Chase, the iconic multinational financial services company, has announced a major reduction in force.

The personnel adjustment will impact 1,000 employees (15%), across departments including consumer banking, commercial banking, asset and wealth management, as well as technology and operations at the failed San Francisco-based First Republic Bank, which the firm acquired from the FDIC.

According to a company spokesperson, "Since our acquisition of First Republic on May 1, we've been transparent with their employees and kept our promise to update them on their employment status within 30 days. We recognize that they have been under stress and uncertainty since March and hope that today will bring clarity and closure."

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?