The View got off to an emotional start on Monday when co-hosts Sherri Shepherd and Jenny McCarthy addressed the news of their respective exits from the talk show in August.

"We're sitting here, and there's a giant neon pink gorilla in the room," remaining co-host Whoopi Goldberg announced at the beginning of the hour. "We're going to deal with it."

Jenny spoke first, initially tricking the audience into thinking the rumors of a shake-up weren't true.

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Season 17 co-hosts: Whoopi, Jenny, Sherri and Barbara Walters

"We're staying!" she exclaimed as the crowd broke out in cheers. But when the applause died down, she set the record straight. "Actually, it is true. But I love the support."

The blonde beauty, who joined the show in September 2013, continued, "Let me tell you what is going on. I am so grateful to have worked with Barbara Walters in her last year, along with many producers and co-hosts."

She also added, "Upon consideration, I took a new job which allows me to do what I do best, which is talk without interrupting anyone." Jenny hinted the new gig may compete with The View, though she didn't specify any further.

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Jenny and Sherri with boss Barbara during one of her final shows in May

Sherri was more emotional about her departure, having called The View her home for seven years.

"You know I'm a woman of faith, and seven is the number of God's completion. I've been here seven years, and my time with The View is complete."

She continued, "I'm going to forever be grateful to Barbara Walters and Bill Geddie for taking a chance on an actress and making me learn things, helping me step out of my comfort zone. They gave me a chance."

Sherri teared up, while adding, "Step out, do something that makes you scared. I was scared to do The View…I love the cast and crew. They made me feel like this is my family. Thank you. Thank you."