AM I NEXT? NO LOVE AT VERIFONE

San Jose, California-based VeriFone, a third-party manufacturer of electronic payment point-of-sale devices, has announced that it will be laying off 226 employees from its Lincoln, California office commencing on August 26, 2019. According to a company spokesperson, “While the Company’s elimination of the affected positions is expected to be permanent, the job functions associated with the eliminated positions are being outsourced to a third party. The Company anticipates that the third party may offer employment to many of the affected workers.”

It appears that the company is still undergoing a restructuring/cost cutting effort that was initiated by a new CEO when the company was taken private by an investment consortium dominated by private equity firms, including San Francisco, California-based Francisco Partners and Canada-based British Columbia Investment Management Corp.

Technological disruption appears to be impacting the company as mobile device payment schemes such as contactless transactions with internal wallets eliminate the need for point-of-sale card readers and pin-pads.

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 CLABBER GIRL

Parsippany, New Jersey-based B&G Foods, the recent purchaser of Clabber Girl, the iconic manufacturer of baking powder based in Terre Haute, Indiana, has announced that it will be laying off 25 employees commencing on August 31, 2019, but has no intention of closing its facility in Terra Haute.

According to a company spokesperson, “The decision was driven by factors including efficiency and scale, and it has no plans to close or move. We are committed to the success and growth of the Clabber Girl business. In order to grow the business efficiently and maintain scale and productivity, we have made the difficult decision to consolidate certain sales and general administrative functions with our corporate parent. We are grateful for the dedication and contributions of all our employees, and our community in Terre Haute that continues to embrace Clabber Girl. Clabber Girl has been a proud member of the Terre Haute community for many years and while extremely difficult, these actions are necessary for Clabber Girl to remain competitive and continue to grow."

The divestiture of Clabber Girl by Hulman & Company for $80 million permits Hulman to concentrate on its racing and broadcasting interests including the ownership of the Indianapolis Motor Speedway, the home of the Indianapolis 500.

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 MERCY HEALTH

Chesterfield, Missouri-based Mercy Health, a non-profit faith-based health care provider, has announced a major restructuring and cost containment effort that will eliminate 300 to 350 positions company-wide, the majority of which are leadership positions. The decision was driven by a reduced patient census and reimbursement rates.

A company spokesperson noted, “Over the past decade, while we have made good progress in adapting to a constantly shifting health care landscape, the challenges we face require us to move faster than ever in keeping pace with change and meeting the evolving needs of our communities. Financially, Mercy faces increasing challenges to our reimbursement structure as we adjust to reductions mandated by the Affordable Care Act and other budget cuts, as well as the lack of Medicaid expansion in most of our states. Clinically and culturally, there continue to be opportunities to further standardize care and operational practices, in order to support the highest levels of quality and safety, as well as minimize the cost of variation. In light of all of these factors, Mercy is in the process of simplifying our organizational structure and realigning our workforce in order to gain efficiencies and reduce costs. Exceptional patient care, quality and safety will continue to be our priority. Mercy is committed to keeping our ministry strong and vital, both for our co-workers and our communities. “

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?