A giant company now makes unexpected layoffs in Ohio, a trend the industry has begun to see in the discount retailer space.
The owner of Family Dollar and Dollar Tree will trim nearly 1,000 stores from the discount retail chain’s footprint.
Dollar Tree Inc. (NASDAQ: DLTR) this month said that it plans to close a total of 600 Family Dollar locations in the first half of its fiscal 2024.
Another 370 Family Dollar stores, plus 30 Dollar Tree locations, will close as their leases expire over the next few years, reports Local12.
The company’s WARN letter, submitted earlier this week, said it will be eliminating as many as 265 jobs in Ohio at Family Dollar stores that will close by April 20.
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.
Fortunately, employees are being offered opportunities to transfer to nearby stores.
Family Dollar has more than 40 stores in the Greater Cincinnati region.
Dollar Tree has at least 18 stores in the Greater Cincinnati region.
Other businesses laying off in Ohio this year include:
- Volta Charging Industries. 3 job cuts by 5/31.
- ProMedica Employment Services LLC. 92 job cuts by 5/31.
- Bionano Genomics. 2 job cuts by 5/24.
- Associated Materials LLC. 184 job cuts by 5/20.
- Amsive LLC. 60 job cuts by 5/17.
- First Student Transportation LLC. 81 job cuts by 6/30.
- Sid Tool Company. 130 job cuts by 5/14.
- Brightview Landscapes, LLC. 86 job cuts by 5/1.
- IAC Wauseon. 175 job cuts by 4/26.
- Decorative Panels International Inc. 76 job cuts by 5/31.
- Walmart. 177 job cuts by 5/3.
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Also Read: Three Massive Bank Branches Are Now Closing in California
Other Economy News Today
A massive US bank now closes more branches in Ohio according to fresh data from the Office of the Comptroller of the Currency.
Last month, the Office of the Comptroller of Currency reported that Park National Bank closed a total of ten locations in Ohio in just one week.
They included:
- 898 East St, Athens
- 2810 Maysville Pike, Zanesville
- 220 E. State St, Newcomerstown
- 1274 Hills Road N, Pickerington
- 205 North Seltzer St, Crestline
- 2148-G Eagle Pass, Wooster
- 800 North Main St, Celina
- 8 West Maple St, North Lewisburg
- 2035 Dayton Lakeview Rd, New Carlisle
- 1176 West Main St, Tipp City
Now the OCC has released an updated roster of the following US Bank branches closing in Ohio this year:
- 350 Euclid Ave, Cleveland
- 38 North Broadway St, Farmerville
- 64 North Main St, Cedarville
- 123 North Reed Ave, Malvern
- 85 West Main St, Shelby
Last year, Crains Cleveland reported that Ohio outpaced the national average for bank branch closures.
In Ohio, 4.8% of branches were closed between 2020 and 2021, while 4.3% shuttered between 2021 and 2022.
This compares with the national average of 3.2%.
The closure of bank branches has led industry experts to believe low income communities will be left with ‘bank deserts’.
“If the trend of current bank branch closings continues, there may be no bank branches left in 10 years,” reported TheStreet.
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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing
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