Unexpected Layoffs in California Now Surge Prior to Holidays
Unexpected layoffs in California now surge prior to the holidays according to the latest WARN data.
It’s important to note that under the Worker Adjustment and Retraining Notification Act, an employer with more than 100 full-time workers must provide a 60-day notice before laying off 50 or more people at a single site.
This week, the following three companies have filed WARN Act notices with the California Employment Development Department, advising of layoffs:
- Surefox North America who are laying off 386 staff on December 18 in Sunnyvale and Mountain View.
- Arden Hills Country Club will be laying off 33 staff in Sacramento on December 31.
- Kitayama Brothers are laying off 53 staff in Watsonville on December 23.
Outplacement and coaching firm Challenger, Gray & Christmas has released a report looking at layoffs across the nation, and when it comes to job cuts, no state comes close to California.
California currently ranks as the #1 state with the most layoffs in the country.
In second place is New York followed by Colorado, Illinois, Texas, Washington, New Jersey, Florida, Michigan, and Georgia.
There has been approximately 67,274 layoffs in California across 1,206 businesses according to the latest WARN data.
Below is a list of upcoming and recent job cuts prior to the holidays this year:
- Dryer’s Grand Ice Cream. 1,015 job cuts by 12/15.
- Dryer’s Grand Ice Cream. 1,015 job cuts on 11/19.
- FedEx. 405 job cuts on 11/15.
- Dryer’s Grand Ice Cream. 306 job cuts by 12/11.
- Sonoco Products. 292 job cuts on 11/01.
- Shaw Industries Group Inc. Plant WG. 283 job cuts on 11/20.
- Matheson Flight Extenders, Inc. 257 job cuts on 11/13.
- PLI Holdings, Inc. 217 job cuts on 11/14.
- LEER Group. 215 job cuts on 11/11.
Also Read: A New Wave of Massive Layoffs Now Hit Florida
Other Economy News Today
Massive bank branches in California now unexpectedly close for 2024 according to fresh data from the Office of the Comptroller of the Currency (OCC).
“Nine additional major California bank branches are collectively scheduled to permanently shutter in 2024, as listed with the most recently updated Office of the Comptroller of the Currency (OCC) Bulletin (for the week ending November 11th),” reports Joel Eisenberg.
However, it should be noted that in the United States major banks cannot close branches until the passing of a minimum of three months following their initial OCC bulletin listing.
So far, no specific dates of the branch closures have yet been announced for any of the banks listed below.
More California bank branches are expected to close following the growing trend and rise of online banking.
Further closures are expected to appear in the next OCC bulletin.
Below are the bank branches in California closing for 2024:
- Chase. 14111 Riverside Dr, Sherman Oaks.
- Chase. 707 Broadway, STE 100, San Diego.
- Chase. 1720 Fulton St, San Francisco.
- Chase. 12555 Valley View St, Garden Grove.
- US Bank. 1309 North Chester Ave, Bakersfield.
- Wells Fargo. 5377 West Centinela Ave, Los Angeles.
- Wells Fargo. 535 South Myrtle Ave, Monrovia.
- Wells Fargo. 1705 N First St, San Jose.
- Wells Fargo. 3550 Wilshire Blvd, Los Angeles.
According to Kiplinger, Chase closed 144 branches last year while the entire industry saw more than 3,000 bank branches close down.
The-Sun reports that “many communities will be left in a “banking desert,” which means they lack access to a bank or credit union within 10 miles.
Online banking has been the primary reason as to why more and more traditional bank branches have increasingly closed down this year.
Also Read: A US Bank is Now Denying Customers Access to Money
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