Unexpected Layoffs in Washington Now Rise
Unexpected layoffs in Washington now rise according to the latest business WARN filings advising of upcoming job cuts.
Layoffs have increased nationwide, with employers in the United States announcing 45,510 cuts in November, a 24% increase from the 36,836 cuts announced in October.
Although layoffs are occurring across the United States, Washington is one of the states most impacted.
So far, in 2023, over 38,000 workers in Washington State have been laid off.
This is the fourth highest of any state and a massive increase from 2022, when employers in Washington laid off 19,000 workers.
While job losses mount, hiring opportunities are falling. In November, employers announced plans to hire 15,566 workers for a year-to-date total of 775,501.
This figure is the lowest year-to-date total for announced hiring since 2015, reports Ash Jurberg.
Below is a list of businesses that have filed WARN notices advising of upcoming layoffs in Washington:
- Broadcom. 158 job cuts by 1/26/2024.
- Alpha Technologies Services, Inc. 77 job cuts by 1/17/2023.
- Nordstrom. 67 job cuts by 2/01/2024.
- Hard Rock International (USA), Inc. 66 job cuts as of 12/01.
- HMSHost. 65 job cuts by 12/31.
- Target. 51 job cuts by 12/30.
- Magnum Venus Products. 47 job cuts by 12/30.
- American Nursery Services. 45 job cuts by 12/31.
- Crothall Healthcare, Inc. 41 job cuts by 12/14.
- Target. 39 job cuts by 12/30.
- Americal Medical Response Moses Lake. 17 job cuts by 1/02/2024.
California remains the #1 state with the most layoffs in the country.
In second place is New York followed by Texas, Washington, New Jersey, Florida, Michigan, and Georgia.
Also Read: Massive Layoffs in California Now Underway Prior to Holidays
Other Economy News Today
Massive layoffs at TD Bank are now underway as the company aims to cut more than 3,000 jobs, a 3% reduction of its workforce.
The 3% reduction will encompass “all business lines” and will be achieved “through attrition and by redeploying talent to open positions wherever possible,” bank representatives said during the third quarter’s earnings call.
TD recorded $363 million in restructuring charges in the fourth quarter tied to employee severance and other personnel-related costs, real estate optimization and asset impairments, the bank said, adding that similar charges are expected in the first half of 2024.
The bank is aiming for $600 million in savings, including $400 million in fiscal 2024, it said.
“While we are focused on expenses, we are pursuing meaningful revenue opportunities across our businesses,” CFO Kelvin Tran said.
“We outlined our strategies to accelerate growth in our Canadian retail businesses at our recent Investor Day and the acquisition of TD Cowen provides additional capabilities for TD to grow its investment bank.”
TD Bank is still under federal investigation by the Justice Department regarding compliance and anti-money laundering matters, originally disclosed in August, Bloomberg reported Thursday.
While TD said it doesn’t expect the investigation to have a material impact on financial results, “there is a possibility that the ultimate resolution of legal or regulatory actions may be material to the bank’s consolidated results of operations for any particular reporting period,” the bank said.
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Also Read: A US Bank is Now Denying Customers Access to Money
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