Skip to content
-
Subscribe to our newsletter & never miss our best posts. Subscribe Now!
FrankNez About FrankNez FrankNez

Journalism & News

FrankNez About FrankNez FrankNez

Journalism & News

  • News
  • U.S. Banking
  • Crypto
  • Stock Market
    • Retail Investors
    • Hedge Funds
    • Market Manipulation
  • Blog
  • About
    • Editorial Policy
    • Privacy Policy
  • News
  • U.S. Banking
  • Crypto
  • Stock Market
    • Retail Investors
    • Hedge Funds
    • Market Manipulation
  • Blog
  • About
    • Editorial Policy
    • Privacy Policy
Close

Search

  • Facebook
  • X
  • LinkedIn
Subscribe
Will AMC Shareholders Ever Make Their Money Back
May 31, 2026
Will AMC Shareholders Ever Make Their Money Back?
AMC Stock News - CEO Adam Aron Buys Shares - FrankNez AMC News
May 19, 2026
AMC’s CEO Just Bought More Stock, Is Now Time To Buy?
Goldman Sachs Lawyer Kathy Ruemmler Resigns amid Epstein files
February 14, 2026
A Former FINRA Board Member Now Resigns from Goldman After Epstein Email Embarrassment
House Financial Services Committee SEC Chair Paul Atkins Hearing
February 11, 2026
House Financial Services Committee Says SEC Politicized Rulemaking During Gensler’s Tenure
Short Sellers Have Now Lost a Whopping $355bn
July 24, 2025
Short Sellers Have Now Lost a Whopping $355bn
Cramer Now Speaks on AMC Amid Bullish Bet on IMAX
July 21, 2025
Cramer Now Speaks on AMC Amid Bullish IMAX Bet
AMC Now Soars 11%, Is A Short Squeeze Imminent?
July 11, 2025
AMC Now Soars 11%, Is A Short Squeeze Imminent?
News - AI Is Now Slashing More Jobs At Hiring Companies
July 10, 2025
AI Is Now Slashing More Jobs At Hiring Companies
Home/Banking News/A Massive US Company Now Announces Layoffs in 5 States
Market News Today - A Massive US Company Now Announces Layoffs in 5 States

A Massive US Company Now Announces Layoffs in 5 States

By Frank Nez
February 20, 2024
2

A massive US company now announces layoffs in 5 states as the delivery giant continues to adjust to volume declines.

UPS will soon shrink its package sorting operations and lay off employees at major facilities such in New York, Rhode Island and Virginia, reports Supply Chain Dive.

The night sortation shift at UPS’ Mechanicsville, Virginia, facility will close this Saturday, spokesperson Jim Mayer said in an email.

Additionally, the day sort at the company’s Warwick, Rhode Island, facility will close April 2 and its Maspeth, New York, night sort will shutter May 10.

“We often evaluate our operations and flex our network to meet volume demands,” Mayer said.

“This allows us to continue delivering industry-leading service while also maintaining competitive prices.”

Mayer did not say how many employees would be laid off as a result of the moves, but Worker Adjustment and Retraining Notification (WARN) Act posts say the Warwick closure will impact 130 employees, and the Maspeth closure will affect 66 workers.

“Our employees are extremely important to us, and we understand the impact this may have on their families,” Mayer said.

“We will work with those who may be impacted throughout the process to provide support.”

The looming closures add to sortation shift cuts UPS is making at facilities in Connecticut, Maryland, Oregon, Kentucky and Indiana to adjust its network capacity for soft demand.

Several of the cuts focus on day sortation shifts.

UPS has often increased or decreased its day sort activity depending on its capacity needs, as it’s less reliant on these sorts for time-critical deliveries, said Jeremy Tancredi, a partner in West Monroe’s Operations Excellence practice and a former UPS industrial engineer, in an interview.

In the event of a day sort closure, the volume can be handled during other shifts, he added.

For more news and updates like this, opt-in for push notifications.

Also Read: Another Popular Restaurant Now Declares An Unexpected Bankruptcy

Other Economy News Today

Market News Today - A Massive US Company Now Announces Layoffs in 5 States.
Market News Today – A Massive US Company Now Announces Layoffs in 5 States.

This massive mall retailer is now closing in California as the former retail titan continues to shrink its footprint nationwide.

A JCPenny in Ukiah, California, located in the north of the state will lose one of its only department stores, reports The-Sun.

The North Orchard Ave location is listed as available for lease, according to The Ukiah Daily Journal.

JCPenney has closed dozens of locations since going bankrupt in 2020 and continues to shutter its remaining stores nationwide.

It has planned at least six shutdowns so far this year.

Customers learned about the latest JCPenny closure thanks to signs on the store windows.

“Store closing, this location only,” a sign pictured by the local paper showed.

The U.S. Sun confirmed the location will shut on Sunday, May 26.

The store will offer liquidation sales of up to 50% off in advance of the shutdown.

Closing down will leave Ukiah residents with few department store options. 

The only major department store remaining in the city is a nearby Kohl’s.

The next closest JCPenney is about an hour’s drive to the south, in Santa Rosa.

Without the Ukiah store, loyal Northern California shoppers are left with only a few remaining locations, reports The-Sun.

JCPenney recently announced several other closures.

In Waterford, Connecticut, the chain will shut down a store by May 25.

In Hermitage, Pennsylvania, near the Ohio border, another branch is set to close on May 5.

That’s the second blow for the area’s shoppers, as a nearby JCPenney in Youngstown, Ohio will close in March.

Two more locations, in New York and Indiana, are also set to shut.

It’s not all bad news for the chain, however.

A location is relocating in New Jersey, adding an “anchor” store to an area mall.

For more news and updates like this, opt-in for push notifications.

Also Read: Another Mall Clothing Retailer Now At High Risk of Bankruptcy

Market News Published Daily 📰

Market News Today - A Massive US Company Now Announces Layoffs in 5 States.
Market News Today – A Massive US Company Now Announces Layoffs in 5 States.

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.

More Market News 📰

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.

View Stock Portfolio

Recommended For You ✨

  • A Giant Company Now Announces Unexpected Layoffs in Virginia
  • SNAP Benefits Will Now Increase For The Year 2024
  • A US Bank is Now Denying Customers Access to Money
  • The US Treasury Direct is Now Freezing Customer Accounts
  • A Massive US Bank is Now Closing Credit Cards
  • Wells Fargo is Now Freezing Bank Accounts in New Scandal


Tags:

Business NewsFinance NewsInvesting NewsJPMorganMarket NewsStock Market News
Author

Frank Nez

Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news blog, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

Follow Me
Other Articles
Market News Today - A Cosmetics Company Now Makes Painful Store Closures
Previous

A Cosmetics Company Now Makes Painful Store Closures

Market News Today - This Famous Breakfast Restaurant Now Makes Another Closure
Next

This Famous Breakfast Restaurant Now Makes Another Closure

2 Comments
  1. Frank Nez says:
    February 20, 2024 at 6:43 pm

    Leave your thoughts below.

  2. Frank Nez says:
    February 20, 2024 at 6:43 pm

    For more news and updates like this, opt-in for push notifications.

Comments are closed.

NEW POSTS

  • Will AMC Shareholders Ever Make Their Money Back
    Will AMC Shareholders Ever Make Their Money Back?
  • What it's like to drive a BMW X3
    What It’s Like to Drive and Live With a G01 BMW X3
  • UFO Files Now Spark End of Times Biblical Speculations
    UFO Files Now Spark “End of Times” Biblical Speculations
  • AMC Stock News - CEO Adam Aron Buys Shares - FrankNez AMC News
    AMC’s CEO Just Bought More Stock, Is Now Time To Buy?
  • Red Ferrari by other luxury supercars.
    Defeat and Failure Are Not The Same Thing
Unlock your personal brand ebook

Trending Market News 📈

Vanguard and BlackRock Now Enter Lawsuit For Market Manipulation

Vanguard and BlackRock Now Enter Lawsuit For Market Manipulation

Frank Nez
By Frank Nez
August 5, 2025
Citadel Securities Is Now Warning The SEC About Using Blockchain

Citadel Securities Is Now Warning The SEC About Using Blockchain

Frank Nez
By Frank Nez
July 22, 2025
Cramer Now Speaks on AMC Amid Bullish Bet on IMAX

Cramer Now Speaks on AMC Amid Bullish IMAX Bet

Frank Nez
By Frank Nez
July 21, 2025
AMC Now Soars 11%, Is A Short Squeeze Imminent?

AMC Now Soars 11%, Is A Short Squeeze Imminent?

Frank Nez
By Frank Nez
July 11, 2025
Economists Now Say Prices Will Continue To Rise, "This Is Just The Beginning"

Economists Now Say Prices Will Continue To Rise, “This Is Just The Beginning”

Frank Nez
By Frank Nez
July 11, 2025
Hedge Funds Are Now Throwing Each Other Under The Bus

Hedge Funds Are Now Throwing Each Other Under The Bus

Frank Nez
By Frank Nez
July 8, 2025
News - GameStop Short Seller Now Looks To Sway Criminal Charges

GameStop Short Seller Now Looks To Sway Criminal Charges

Frank Nez
By Frank Nez
July 8, 2025
World’s Largest Pension Fund Now Loses $61bn As Dollar Falls

World’s Largest Pension Fund Now Loses $61bn As Dollar Falls

Financial Desk Team
By Financial Desk Team
July 6, 2025
News - S&P Report: The US Dollar Is Primed To Weaken Further

S&P Report: The US Dollar Is Primed To Weaken Further

Frank Nez
By Frank Nez
July 4, 2025
News - Jim Cramer Now Says Palantir Will Hit $200 Despite Public Outrage

Jim Cramer Now Says Palantir Will Hit $200 Despite Public Outrage

Frank Nez
By Frank Nez
July 4, 2025

About

FrankNez is a financial news blog founded by American Journalist Frank Nez.

Email: contact@franknezmedia.com

Contact: media@franknez.com

Recent Posts

  • Will AMC Shareholders Ever Make Their Money Back?
  • What It’s Like to Drive and Live With a G01 BMW X3
  • AMC’s CEO Just Bought More Stock, Is Now Time To Buy?
  • Defeat and Failure Are Not The Same Thing
  • Here’s How Our Small Business Made 5-Figures in 90 Days

Mentioned By

Yahoo Finance - FrankNez

Company

Privacy Policy

Editorial Policy

About FrankNez

Copyright 2026 — FrankNez. All rights reserved. Blogsy WordPress Theme