A giant company now announces unexpected layoffs in South Carolina as it transitions its operations to France and Mexico.
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 Bic Corporation filed a notice with the South Carolina Department of Employment and Workforce advising of impending job cuts due to a permanent closure of a facility in Gaffney.
The business will transition operations at the Gaffney plant, which produces a limited supply of BIC Markers, to two BIC factories in France and Mexico.
As a result, 46 employees will lose their jobs at the end of the year.
“All reasonable alternatives were carefully considered prior to making this strategic business decision,” a statement from the company read.
“This decision was not made lightly and is not reflective of the performance, skill, or commitment of the Gaffney workforce.
Although a smaller facility, operations will transition with a phased approach through the third quarter of 2024.”
The company said employees will be provided with as much advance notice as possible and will be given a customized benefits package as well as access to assistance programs and outplacement services.
Below is a list of other businesses laying off in South Carolina this year:
- Stanley Black & Decker. 192 job cuts by 12/31.
- Gentherm. 124 job cuts by 5/3.
- Ascend Performance Materials. 52 job cuts by 3/31.
- Fruit of the Loom. 119 job cuts by 3/22.
- MAHLE Behr. 466 job cuts by 12/31.
- Kohler Co. 71 job cuts by 4/19.
For more news and updates like this, opt-in for push notifications.
Also Read: A Healthcare Service Company Now Announces Unexpected Layoffs
Share this article 👇
Other Economy News Today
This massive US company will now close 200 facilities, part of a plan to reduce its labor needs and save $3 billion by 2028.
UPS aims to close around 200 U.S. facilities as it shifts more volume into a growing number of automated package hubs, a top executive said during the logistics giant’s investor and analyst conference Tuesday.
The company is consolidating locations as part of its “Network of the Future” initiative, which aims to reduce UPS’ reliance on manual labor in its package sortation operations and save $3 billion by the end of 2028, said Nando Cesarone, EVP and President U.S.
Additionally, UPS is closing 40 sorts this year — up from 30 in 2023 — and seeks to automate other aspects of its operations, such as dispatching for package cars and feeder trucks moving volume in its network.
“Network of the Future is targeting all activities for automation within our four walls,” Cesarone said.
“These building consolidations and automations yield real savings.
For example, we’ll have fewer feeder runs.
We’ll be able to eliminate both a.m. and p.m. ground and air feeds in many, many locations.”
Examples of UPS’ cost-saving efforts, according to an investor presentation, include consolidating four facilities in Massachusetts, Connecticut and Rhode Island into nearby hubs.
The company also plans to shutter its Chalk Hill facility in Texas and its New York Capital Village Center hub while modernizing nearby facilities to help handle volume growth.
Facility consolidation will lower UPS’ cost to serve customers while improving its volume-per-resource ratio, Cesarone said.
That ratio is calculated as the average daily volume divided by U.S. employees.
The ratio was 51 in 2023, and UPS wants it to increase to about 59 in 2026.
At the same time, UPS will invest in 63 automation projects throughout the country to support projected volume growth in a less labor-intensive manner.
The logistics giant aims to more than triple the number of automated buildings in its network by the end of 2028, growing to 400 facilities, Cesarone said.
The large majority of automation projects will be completed in existing buildings, while 10 will come from newly built locations.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Discount Retailer Is Now Closing 600 Stores
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.