AM I NEXT? NO LOVE AT FIRST REPUBLIC BANK

San Francisco, California-based First Republic Bank, a commercial bank and provider of wealth management services to high-net-worth individuals, has announced a 25% reduction in force following a bank run that severely depleted its deposits and cratered its stock price.

The reduction in force will impact approximately 1,800 employees.

Chief Financial Officer of First Republic, Neal Holland, noted in an SEC filing, "With the closure of several banks in March, we experienced unprecedented deposit outflows. We moved swiftly and leveraged our high-quality loan and securities portfolios to secure additional liquidity. We are working to restructure our balance sheet and reduce our expenses and short-term borrowings."

"With the stabilization of our deposit base and the strength of our credit quality and capital position, we continue to take steps to strengthen our business. We remain fully committed to serving our communities, and we are grateful for the ongoing support of our clients and colleagues."

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 JENNY CRAIG

Carlsbad, California-based Jenny Craig, a weight loss management and nutrition company, has announced a change in its business model from a retail presence to concentrating on e-commerce solutions.

The company plans to close all of its 600 retail weight loss centers, which will impact at least 1,000 employees. The company has instructed staff members to "anticipate that your employment may be impacted and begin to seek other employment."

According to Mandy Dowson, CEO and president of Jenny Craig, "2023 marks the 40th anniversary since Jenny Craig started changing people's lives with her iconic meals and weight loss plans. Now, Jenny Craig is embarking on the next phase of our business to evolve with the changing landscape of today's consumers. Like many other companies, we're currently transitioning from a brick-and-mortar retail business to a customer-friendly, e-commerce-driven model."

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 ERNST & YOUNG (12/12/23)

AUGUST 12, 2025 — 130 NEW JERSEY EMPLOYEES TARGETED

Following the lay-offs of hundreds of executive assistants whose roles were outsourced abroad in July, we find that the company intends to lay off 130 employees at its Hoboken, Iselin, and Secaucus, New Jersey offices on October 31, 2025. According to the official WARN filing, the reason given is “Operational inefficiencies” and “underperformance in some service lines.”

DECEMBER 12, 2023 — CUTTING 30+ PARTNERS AND 100 CONSULTANTS

Facing economic headwinds, E&Y continues cutting partners and consultants, including 10% of partners in consulting, 4% in strategy and transactions, and the audit and tax divisions.

Ernst & Young is laying off dozens of partners across all U.S. businesses, a deeper round of partner cuts than usual as the Big Four accounting firm faces slowing demand for certain services and seeks to cut costs following its failed plan to break up the firm. Both senior and junior levels are included.

According to a spokesperson, “These decisions have been thoughtfully made with respect and fairness for all of our people and the future of our business. As part of our long-term planning, EY has been transforming our business to focus on the areas where our clients have the greatest needs.”

MAY 3, 2023 — Original post…

London, England-based Ernst & Young, a professional services network offering accountancy, auditing, and consulting services, has announced that it will initiate a 5% reduction in the U.S. workforce.

The reduction will impact approximately 3,000 employees.

According to a company spokesperson, “After assessing the impact of current economic conditions, strong employee retention rates, and overcapacity in parts of our firm, we have made the difficult business decision to separate approximately 3,000 US employees. The spokesperson stressed that the reduction is not a result of the firm's previous plan to split off the firm’s consulting business and much of its tax practice to form a publicly traded 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?