A massive company in California is now laying off hundreds according to the latest WARN filings and reports.
Matheson Flight Extenders (MFE), a mail processing, transportation, and logistics contractor, says it will be laying off a whopping 450 employees in December as it closes its mail sorting facilities in California.
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.
Matheson Flight Extenders has reported 3 WARN notices with the California Employment Development Department advising of upcoming job cuts.
Here are the locations being affected:
- 72 employees being laid off at the facility in San Leandro
- 124 workers losing their jobs across two centers in Sacramento
- 257 workers permanently laid off at a Long Beach facility
MFE has been providing services to the Postal Service since December 1998 but has recently cut jobs in several states following a dispute with the US Postal Service, reports Ash Jurberg.
Last week, the following three companies also filed WARN Act notices with the California Employment Development Department, advising of layoffs prior to the holidays:
- Surefox North America who are laying off 386 staff on December 18 in Sunnyvale and Mountain View.
- Arden Hills Country Club will be laying off 33 staff in Sacramento on December 31.
- Kitayama Brothers are laying off 53 staff in Watsonville on December 23.
There has been approximately 67,274 layoffs in California across 1,206 businesses according to the latest WARN data.
California currently ranks as the #1 state with the most layoffs in the country.
Other Economy News Today
Massive banks in Illinois are now closing down according to fresh data from the Office of the Comptroller of the Currency (OCC).
This week, five new locations have been added to the growing list of bank closures in Illinois.
Four of these branches closing this week are PNC Banks, which announced that 19 branches would be closing nationwide in February.
- Chicago PB. 10 S. Wacker Dr, Chicago
- PNC Bank. 5650 South Brainard Ave, Countryside
- PNC Bank. 1140 N Main St, Gainesville
- PNC Bank. 2217 W Market St, Bloomington
- PNC Bank. 1949 E Sangamon Ave, Springfield
Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.
The increase in bank closures means many people must travel further to reach their nearest bank, primarily impacting vulnerable and elderly customers.
Online banking is the primary reason as to why we’re seeing less and less physical branches now.
CNBC reports this leads to “banking deserts when communities are without access to a bank or credit union within 10 miles.
Several studies have shown these communities are more likely to use non-traditional and high-fee lending options such as payday loans and check-cashing services, which increases financial inequities and ends up widening the wealth gap.”
Below is a list of banks that have closed in Illinois or are scheduled to close within the next few month:
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