Sherri Shepherd and Jenny McCarthy were fired from "The View" late Thursday afternoon.

Shepherd released a statement to Deadline regarding her departure, reading:

"It's been seven wonderful years on "The View" and after careful consideration it is time for me to move on. I am extremely grateful to Barbara Walters and Bill Gedde for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my "View" family and my fans for supporting me on this journey."

McCarthy sent a message to her followers yesterday, saying, "If Sherri goes...I go to. #sisters."

She followed up with, "My View will be changing too. As will with many hard working folks. Thanks to everyone at the show for your dedication and an amazing year."

A source revealed to Philly.com that Shepherd was negotiating a new contract with ABC, but they failed to reach an agreement.

McCarthy was facing a hectic schedule, commuting from New York to film "The View" to Chicago where her 12-year old son Evan lives and attends school. The host announced her engagement to Donnie Wahlberg in April and recently discussed wedding planning and work/life balance.

"I don't want to be too busty in my wedding dress. I think when brides are too busty it takes away from the beauty of the bride," Jenny told E! News. "It will be form fitting, but not too over done."

On the other hand, Shepherd split from husband Lamar Sally in May.

"I say you can't beat yourself up when you know you've made the wrong choice in a guy," she told Us Weekly. "You look, you do some introspective work, and you try not to make the same mistake."

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