AM I NEXT? NO LOVE AT MERATIVE

Ann Arbor, Michigan-based Merative, formerly IBM Watson Health offering products and services that help clients facilitate medical research through the use of artificial intelligence, data analytics, cloud computing, and other advanced information technology, has announced a post-acquisition personnel realignment.

The headcount reduction impacted 250 employees between November 2022 and February 2023.

According to a company spokesperson, "Since becoming a standalone company in July 2022, Merative has evaluated our organization and made changes, and in some cases reductions, to align to our six core product lines. These changes align with our strategic plan for long-term growth. For privacy and competitive reasons, we don't share details about reductions in force."

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 CIVIC FINANCIAL SERVICES

Redondo Beach, California-based Civic Financial Services, a subsidiary of Beverly Hills, California-based PacWest Bancorp and an institutional private money lender specializing in the financing of non-owner occupied investment properties, has announced a restructuring and cost-cutting initiative.

According to an SEC filing, the restructuring will impact 200 employees.

According to the filing, "Last month, the Company announced it recorded a goodwill impairment of $29 million as part of a strategy to restructure Civic to improve its profitability and risk profile. This restructuring involves reducing the number of loan products offered, reducing loan growth compared to 2022 levels, and transferring the management of most Civic functions to Company executives. In addition, the Company anticipates that approximately 200 Civic positions will be eliminated, effective in the second quarter of 2023. This restructuring aligns with the Company's strategy to focus on relationship-based community banking and to improve capital, liquidity, and operational efficiency"

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 MCKINSEY & COMPANY (11/28/25)

NOVEMBER 28, 2025 — 200 TECH EMPLOYEES

The company cut 200 tech jobs last week as it employs AI to do some tasks. It may cut more jobs in other areas over the next two years as it increases its use of AI.

According to a company spokesperson, “AI is enabling unprecedented levels of opportunity and impact for our clients and us. We are continually working to make our professional support functions more efficient and effective, including by taking advantage of AI.”

APRIL 14, 2024 — 360 EMPLOYEES TARGETED

The company is continuing its strategic workforce restructuring, which involves reducing approximately 360 positions across various specialized departments and targeting those with technical expertise, including design, data engineering, cloud, and software team members.

According to a company spokesperson, “We invest to grow capabilities that match our clients’ priorities and adjust the size of a small number of others as appropriate. As part of this process, some roles will be eliminated within this small number of capabilities.”

MARCH 1, 2023 — Original post…

New York, New York-based McKinsey & Company, a global management consulting firm servicing corporations, governments, and other organizations has announced a major cost-reduction program to benefit the company's partners.

The initiative will impact approximately 2,000 non-customer-facing support staff employees while not affecting partners.

According to published reports, "Under a plan dubbed Project Magnolia, the management team is hoping the move will help preserve the compensation pool for its partners. The firm, which has seen rapid growth in its headcount during the past decade, is looking to restructure how it organizes its support teams to centralize some of the roles.

A company spokesperson noted, “We are redesigning the way our non-client-serving teams operate for the first time in more than a decade so that these teams can effectively support and scale with our firm."

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?