AM I NEXT? NO LOVE AT MONTEFIORE HEALTH SYSTEM CMO

New York City, New York-based Montefiore Health System has announced a reduction in force in its Care Management Organization, but will be not be closing the office in Yonkers, New York Approximately 149 employees will be laid off. The CMO manages physician and provider networks as a means to reduce the overall cost of healthcare.

The decision appears to be related to claims analysis and data analytics after third-party contractual issues made it difficult for the organization to obtain and process quality health care data.

A company spokesperson noted,, “As we plan for the future, we remain committed to value-based care and are working to ensure that all of our contracts with payors have appropriate terms to support our success improving care, quality and overall patient experience.”

The spokesperson emphasized that these layoffs are not related to the closure of Montefiore’s Mount Vernon Hospital which is scheduled to be replaced with a purpose-built emergency and ambulatory care facility.

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 HALOZYME

San Diego, California-based Halozyme, a biotechnology company that develops new cancer therapies and drug delivery systems, has announced that it will layoff 160 employees, approximately 55% of its workforce.

The decision was driven by the under-performance of a Phase 3 pancreatic cancer drug trial designed to confirm the drug’s effectiveness when compared to standard care methodologies. The company will concentrate on its profitable drug delivery system.

According to a company spokesperson…

“Halozyme intends to halt development activities for PEGPH20 and implement an organizational restructuring to focus its operations solely on its ENHANZE® drug delivery technology. In order to implement this strategic shift, Halozyme will immediately initiate an organizational restructuring to halt development activities for PEGPH20 and close its oncology operations. As a result, Halozyme expects the following:

• Headcount will be reduced by approximately 55%, or approximately 160 positions, with over 80% of the reduction completed in early January 2020.

• Restructuring and other cost-saving efforts will result in savings of $130 to $140 million in 2020 compared with the Company's most recent guidance for 2019 operating expenses excluding cost of goods sold.

• Upon completion of the restructuring and after booking all related one-time charges, Halozyme anticipates becoming a sustainably profitable company beginning in the second quarter of 2020.

• Projected annualized operating expenses excluding cost of goods sold of between $65 million and $75 million will be achieved by the fourth quarter of 2020.

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 LAZARD

Hamilton, Bermuda-based Lazard, an iconic investment bank and financial advisory consultancy with its U.S. headquarters located in New York City, New York, is continuing its reorganization efforts based upon its continuing review.

In announcing the company’s third-quarter results, the company noted that “We conducted a review of our business, which resulted in a realignment that included employee reductions and the closing of subscale offices and investment strategies, most of which were completed during the third quarter of 2019. The employee reductions involve approximately 200 people across financial advisory, asset management and corporate functions. We believe these actions better align the business with changes in the marketplace and create greater flexibility to focus on strategic growth opportunities.”

Ken Jacobs, Lazard CEO, noted “There have been some changes in the macro environment globally, which leads us to believe there’s a better use of resources in other parts of the firm. It’s more matching costs with revenue where the opportunity exists.”

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?