A Massive Beverage Distributor Now Shutters in Texas

A massive beverage distributor now shutters in Texas and will lay off 109 employees starting in late February.

Jumbo Beverages, a subsidiary of Glazer’s Beer and Beverages, is permanently shuttering a warehouse in Grapevine, Texas, on Feb. 29, according to a WARN filing.

The closure will impact 109 employees, with a majority of the layoffs expected to occur on Feb. 29, while remaining employees will be separated on April 30, according to a notice emailed to Supply Chain Dive.

The letter didn’t state why the distributor is closing its warehouse.

Jumbo Beverages is a subsidiary of distributor Glazer’s Beer and Beverage, and represents 34 beverage companies, including Nesquik, San Pellegrino and Fiji Water, across 13 counties in North Texas, according to the company’s website.

While Jumbo Beverages may be closing its facility, other beverage distributors have been investing in their warehouse operations.

Southern Glazer’s Wine and Spirits, for instance, is planning to deploy AI technology and robotics warehouse automation in select distribution centers by 2025, reports Supply Chain Dive.

“The tech aims to improve order accuracy, fill rates and increase capacity.”

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Also Read: A Popular Clothing Retailer Now Begins An Unexpected Liquidation

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Market News Today - A Massive Beverage Distributor Now Shutters in Texas.
Market News Today – A Massive Beverage Distributor Now Shutters in Texas.

A massive social media company now lays off 500 employees to “promote in-person collaboration,” sources report.

Social media company Snap said Monday that it will lay off 10% of its global workforce, or around 500 employees, in part to “promote in-person collaboration.”

The Snapchat maker’s shares fell nearly 3% in morning trading.

The company has executed multiple rounds of layoffs since 2022, most recently in November, when it trimmed a small number of product employees, reports CNBC.

Snap expects it will incur charges ranging from $55 million to $75 million, according to a regulatory filing.

The company’s last major round of cuts was in August 2022, when it laid off 20% of staff and restructured its business lines.

“We are reorganizing our team to reduce hierarchy and promote in-person collaboration.

We are focused on supporting our departing team members,” a Snap spokesperson told CNBC.

The social media platform is the latest tech company to continue cutting in 2024. Nearly 24,000 tech workers lost their jobs in January alone.

Already this month, cybersecurity and identity company Okta and Zoom have laid off staff.

Snap CEO Evan Spiegel testified before the Senate Judiciary Committee last week, one of several social media executives to face scrutiny over the damage their platforms caused young people.

Snap stock remains below its debut price and well off its 2021 high of around $83.

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Also Read: Another Massive Bank is Now Laying Off 600 Employees

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Market News Today - A Massive Beverage Distributor Now Shutters in Texas.
Market News Today – A Massive Beverage Distributor Now Shutters in Texas.

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