A new wave of unexpected layoffs now hits North Carolina in 2024 as more businesses advise of upcoming job cuts.
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.
These must be filed with the North Carolina Department of Commerce in North Carolina.
In 2023, a total of 103 businesses laid off approximately 8,969 staff.
This is more than double last year’s figures. In 2022, a total of 40 businesses filed notices amounting to 4,104 layoffs in North Carolina.
Below is a new list of businesses that have advised of upcoming layoffs in North Carolina for 2024:
- Amentum. 92 job cuts by 2/03/2024.
- LSG Sky Chefs. 57 job cuts by 1/31/2024.
- GATE Precast. 77 job cuts by 7/1/2024.
- CPP Global LLC. 52 job cuts by 4/30/2024.
- National Spinning Co. Inc. 100 job cuts by 1/15/2024.
- Dansons Inc. 49 job cuts by 4/30/2024.
- Cygnus Home Service LLC dba Yelloh. 24 job cuts by 1/27/2024.
Below is a list of job cuts in North Carolina that occurred just last month:
- Printpack, Inc. 90 job cuts by 12/31.
- Hood Container. 88 job cuts by 12/19.
- AgBiome, Inc. 123 job cuts by 12/15.
- National Distribution Centers LLC. 217 job cuts by 12/31.
- Gildan Yarn’s. 258 job cuts 12/08.
- Smithfield Packaged Meats Corp. 107 job cuts by 12/8.
- Kayser-Roth Corporation. 126 job cuts by 12/22.
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
A massive retailer closes locations and now begins layoffs according to the latest Worker Adjustment and Retraining Notification filings.
Target Corporation’s recent announcement of the permanent closure of two Washington stores, leading to a mass layoff of 90 employees, sheds light on the growing challenges faced by retailers.
The decision, driven by concerns over organized retail crime and theft, signals a broader issue impacting the retail sector.
The closure of Target stores in Seattle University Way and Seattle Ballard, scheduled for December 30th, has been disclosed through the Worker Adjustment and Retraining Notification (WARN) system.
This strategic move is a response to Target’s ongoing assessment of store performance and the rising hurdles posed by theft and organized retail crime.
According to Capital One’s report, retail experienced a significant revenue loss of $94.5 billion in 2021, with external theft, including shoplifting and organized retail crime, contributing to 37% of the total losses.
The report highlights the escalation of retail theft value due to currency inflation, a factor exacerbating the challenges faced by retailers.
In 2022, Washington state’s retail sector suffered substantial losses, witnessing a $1.685 billion decrease in revenue attributed to theft.
Each resident accounted for an average of $274.43 in lost sales, emphasizing the economic consequences of theft. Felony-level thefts of $750 or more added gravity to the situation, portraying the severity of the issue in the state.
Return fraud further intensified the impact, causing an estimated $1.830 billion in lost sales revenue and contributing to a total retail loss of $3.515 billion.
Layoffs and closures within the retail industry continue to be ongoing and developing stories.
For more news and updates like this, opt-in for push notifications.
Also Read: A US Company Now Declares An Unexpected Bankruptcy
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.