AM I NEXT? NO LOVE AT SIGNIFY HEALTH

Dallas, Texas-based Signify Health, a medical technology company operating a healthcare platform that facilitates how home health care services are administered and delivered, is undertaking a multi-state reduction in force.

The reduction will impact 489 employees in Texas, South Dakota, including 175 employees in New York and 45 employees in the comany's principal executive office in Norwalk, Connecticut. Layoffs are scheduled to commence on October 1, 2022. 342 employees are now working remotely.

The decision was driven by “recent policies implemented by the Center for Medicare & Medicaid Innovation which made continuing to operate in that market segment unsustainable."

According to a company spokesperson, “We are reducing our workforce in consideration of the fact that, as we announced in July, we are transitioning our focus from a stand-alone episodes offering to a total cost of care management solution. We have notified employees whose roles are impacted by this decision.”

Signify Health is exploring strategic alternatives including a sale to a large company like Woonsocket, Rhode Island-based CVS.

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 CALM

San Francisco, California-based Calm, the platform application for mental wellness using sleep, meditation and relaxation audio content, has announced that it reduced its headcount by 20% or approximately 90 employees in its marketing department.

Chief Executive David Ko noted, “Regrettably, today we are reducing our overall workforce by 20%. While some of you will be impacted, all of you will be affected. I can assure you that this was not an easy decision, but it is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness."

"We did not come to this decision lightly, but are confident that these changes will help us prioritize the future, focus on growth and become a more efficient organization”

In the memo, Mr. Ko wrote that Calm leadership had “revisited the investment thesis behind every project” before deciding to make changes that would help stabilize the business.

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 SOULCYCLE

New York City, New York-based SoulCycle, a subsidiary of the Equinox Group and organized around indoor cycling, spinning workout classes, and merchandise, has announced the multi-state closure of at least 19 locations and the layoff of all location employees.

According to CEO Evelyn Webster. "The timing was appropriate to look at our studio footprint by market to understand whether we continue to believe that we had indeed oversaturated some markets, and the conclusion is that after much work and analysis that perhaps we have."

"We've been able to analyze a lot of data that very clearly indicates to us that many of our riders have moved. They've either moved where they live and they no longer live close to a studio, or for many of our riders they've moved where they work because they're working from home."

"You can imagine a process like this is extraordinarily involved, very, very complex. It involves our teammates of colleagues, first and foremost, our riders, and of course, all of the landlord negotiations which in their own right is very, very complicated. What I will tell you, is this is absolutely the right decision."

"Unfortunately, this does mean given the number of studios and the number of markets that we're talking about, that this will ultimately lead to a number of our teammates losing their employment with SoulCycle,"

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?