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Prudential files WARN notice for 125 NJ job cuts (updated). Layoffs continue efforts from Newark-based Pru to streamline organization, operations Prudential Financial Inc. continues to streamline its operations, disclosing 125 layoffs in a September filing with the New Jersey Department of Labor & Workforce Development. According to the latest WARN notice, the job cuts will affect subsidiary Prudential Insurance Co. of America between Nov. 28 and Dec. 31, 2026. "Prudential is building a more focused, efficient company positioned for long-term growth," the company told NJBIZ. "As part of that effort, we are simplifying how we operate and making targeted changes across the organization to better align our workforce and resources with our highest strategic priorities. These decisions are never easy, and we are committed to treating affected employees with care and respect." Over the course of 2026, the Newark anchor institution has filed four WARN notices indicating a total of 321 job cuts. Since 2024, Prudential has revealed more than 1,000 layoffs in Newark as the company seeks to streamline its business - an endeavor prevalent across corporate America. The figure totaled 637 that year, and 183 in 2025. According to its annual company filing, as of Dec. 31, 2025, Prudential reported more than 36,000 employees worldwide with 13,879 in the U.S. It was not immediately clear how many employees work in Newark. Last week, Prudential Chairman and CEO Andrew Sullivan revealed the company plans to sell two of its Newark office buildings. "We are aligning our real estate footprint with our strategy and future ways of working," Sullivan said in a statement shared with NJBIZ. He also clarified there are no immediate changes for employees. And that the transition will take several years. Recent WARN notice disclosures also include: * Sumitomo Mitsiu Banking Corp. - 75 cuts, effective Oct. 1-13 in Jersey City * Fiserv Solutions LLC - 98 cuts, effective Sept. 11 in Berkeley Heights * UBS - 41 cuts, effective Nov. 26-30 in Weehawken * Cenlar FSB - 50 cuts, effective Aug. 21-Oct. 30 in Ewing Township * Citibank NA - 59 cuts, effective Oct. 31 in Hudson County Meanwhile, JP Morgan Chase has filed five WARN notices in 2026 for a total 541 cuts. Editor's note: This story was updated at 3:16 p.m. Oct. 5, 2026, to better reflect the total number of layoffs since 2024. About the reporter Jessica is the managing editor and covers commercial real estate for NJBIZ.

Wells Fargo reaffirms their Sell rating on Prudential Financial (PRU). Oct. 4, 2026, 11:55 AM Wells Fargo analyst Wesley Carmichael maintained a Sell rating on Prudential Financial on October 2 and set a price target of $110.00. The company's shares closed last Friday at $112.60. Carmichael covers the Financial sector, focusing on stocks such as Prudential Financial, Voya Financial, and AFLAC. According to TipRanks, Carmichael has an average return of 15.7% and a 78.13% success rate on recommended stocks. Currently, the analyst consensus on Prudential Financial is a Hold with an average price target of $115.60, representing a 2.66% upside. In a report released on October 2, Morgan Stanley also maintained a Sell rating on the stock with a $105.00 price target. Based on Prudential Financial's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $15.66 billion and a net profit of $909 million. In comparison, last year the company earned a revenue of $13.8 billion and had a net profit of $533 million Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRU in relation to earlier this year. Most recently, in August 2026, ANN M KAPPLER, the EVP & GC of PRU sold 7,652.00 shares for a total of $956,576.52. Read More on PRU:

New Jersey Devils Name Prudential Financial as First-Ever Away Jersey Patch Partner; PGIM Joins as Away Helmet Decal Partner TMCnet News [October 02, 2026] | / | New Jersey Devils Name Prudential Financial as First-Ever Away Jersey Patch Partner; PGIM Joins as Away Helmet Decal Partner The New Jersey Devils announced today a multi-year expansion of their longstanding partnership with Prudential Financial Inc., designating Prudential as the club's first-ever away jersey patch partner and PGIM, Prudential's $1.5 trillion global asset management business*, as the team's away helmet decal partner. The expanded partnership further strengthens Prudential's ties to its headquarters city of Newark through community initiatives such as the Raise Jersey program, in which Prudential will serve as presenting partner, and extended support for Military Appreciation Night initiatives. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261002172361/en/ New Jersey Devils name Prudential Financial as first-ever away jersey patch partner; PGIM joins as away helmet decal partner. Prudential, the Official Financial Services Partner for the New Jersey Devils and Prudential Center, became the first company in NHL history to enter into a helmet branding agreement in 2020, one of the most prominent branding opportunities in the game. The addition of the PGIM logo on away helmets complements the Prudential logo already featured on home helmets, extending the company's brand visibility at every Devils game. The club's first-ever away jersey patch, featuring Prudential's iconic logo, and PGIM helmet decal will debut on October 3 against the New York Islanders. Together with the helmet assets, Prudential is bolstering its brand presence with the Devils across broadcast, social, digital and in-arena channels, and deepening their longstanding partnership for over twenty years. To view photos of the new patch and helmet decal, please click here. "For nearly two decades, our partnership with the New Jersey Devils has helped Prudential build meaningful connections with fans and customers while driving positive impact in the local Newark community and across the state," said Richard Parkinson, chief brand and marketing officer at Prudential Financial. "This next chapter of our partnership strengthens that connection and enables the company to more broadly engage audiences, while reinforcing our promise to help people protect what they've spent a lifetime building so they can live better lives, longer." "Our jersey symbolizes more than just a hockey team, and we're proud to represent partners like Prudential and PGIM on the road camera who are as dedicated to our community as we are," said Nico Hischier, Captain of the New Jersey Devils. The partnership expansion reflects Prudential's deep roots in Newark, the city it has called home for more than 150 years. Together with the Devils, Prudential is helping strengthen Newark as a vibrant community and cultural destination through programs that increase access to hockey for young people, support local organizations, and honor community heroes. "Prudential has been an integral partner of the New Jersey Devils and Prudential Center for more than two decades, and this expanded partnership fortifies our brands and creates lasting impact throughout Newark and New Jersey," said Jake Reynolds, President, New Jersey Devils and Prudential Center. "As Prudential becomes our first-ever away jersey patch partner and PGIM joins as our away helmet decal partner, we're building on a stron foundation on and off the ice, while creating new opportunities to engage fans, support community organizations, honor our heroes, and invest in the future of our region." As the presenting partner of the Devils' Raise Jersey Program, Prudential will partner with the Devils to spotlight Newark-based nonprofits and social service organizations addressing community needs. Through in-arena visibility and features across social media, radio and television, the program amplifies their work, deepens community engagement and connects fans with opportunities to make a positive impact across Newark. Building on its role as presenting partner of the annual Military Appreciation Night, Prudential will collaborate with the Devils to extend recognition of local heroes throughout the season through storytelling, community engagement, and other meaningful moments. The partnership will also continue to create opportunities for New Jersey youth to participate in the game through the annual donation of 200 hockey helmets to a local youth hockey organization selected by Prudential and the Devils. The helmets will be presented at an event hosted by the Devils at Prudential Center. About The New Jersey Devils: The New Jersey Devils are part of the 32-team National Hockey League, with teams throughout the United States and Canada. Established in 1982, they recently celebrated their 40th season in the Garden State. During that time, the team has won three Stanley Cup Championships: 1995, 2000 and 2003. Follow the Devils at NewJerseyDevils.com, on Facebook, X, and Instagram. The New Jersey Devils organization is a HBSE property. About Prudential Center: Prudential Center is the world-class sports and entertainment venue located in downtown Newark, New Jersey. Opened in October 2007, the state-of-the-art arena is the home of the National Hockey League's (NHL) three-time Stanley Cup Champion New Jersey Devils, Seton Hall University's NCAA Division I Men's Basketball program, Professional Women's Hockey League's (PWHL) New York Sirens and more than 210 concerts, family shows and special events each year. Ranked in the Top 10 worldwide by Pollstar, Billboard and various other industry publications, Prudential Center is recognized as one of the premier venues in the United States, and hosts over 2 million guests annually. For more information about Prudential Center, visit prucenter.com and follow the arena on Facebook, X, Instagram, and TikTok @PruCenter. Prudential Center is a HBSE property. About Prudential Financial: Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of June 30, 2026, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for over 150 years. For more information, please visit news.prudential.com. About PGIM: PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.* PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions-including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, TMCnet serve retail and institutional clients worldwide. For more information, visit pgim.com. * As of June 30, 2026. Assets are rounded to the nearest full number. View source version on businesswire.com: https://www.businesswire.com/news/home/20261002172361/en/ [ Back To TMCnet.com's Homepage] |