A Massive Company Now Announces Unexpected Layoffs in Alabama

A massive company now announces unexpected layoffs in Alabama due to ‘external decisions’ made outside the business.

Boeing plans to lay off a total of 128 workers at a facility in Huntsville, Alabama, according to an April 30 Worker Adjustment and Retraining Notification Act post.

The job cuts are expected to begin June 28.

“We have notified some team members in Huntsville of a potential layoff, as programs are affected by decisions external to Boeing,” a Boeing spokesperson said in a statement to Manufacturing Dive.

“We will continue to be transparent with team members and explore alternative placement opportunities within Boeing for impacted employees.”

The aircraft maker and defense contractor operates a hub in Huntsville and employs nearly 3,300 workers in the state, according to the Alabama Department of Commerce in June 2023.

Boeing’s Huntsville operations include designing, engineering and producing missile and weapon systems for various military and commercial projects in the space, defense and aviation industries.

Other projects include the Space Launch System rockets and the International Space Station laboratory, according to Boeing’s career website.

Despite the impending layoffs, the aircraft maker is expanding its Huntsville footprint.

In November, the company began building a 35,000-square-foot expansion of its Patriot Advanced Capability-3 missile seeker factory, growing annual production capacity by more than 30%.

Boeing is producing missile systems at the site as a subcontractor to Lockheed Martin, with operations expected to begin in 2027.

In early 2023, Boeing opened a 9,000-square-foot expansion of its Huntsville Electronics Center of Excellence.

The center produces critical hardware that connects components for its Patriot Advanced Capability-3 missiles and other systems in the company’s defense, space and security division.

Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - A Massive Company Now Announces Unexpected Layoffs in Alabama.
Market News Today – A Massive Company Now Announces Unexpected Layoffs in Alabama.

A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.

Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.

The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.

It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.

Court documents seen by Reuters revealed the company has more than $190 million of debt.

The chain has 540 stores across the US and 4,900 workers are set to be impacted.

Outlets are to slam shut within four to six weeks, according to court papers.

Bosses also announced plans to sell the company’s intellectual property.

The company narrowly avoided going into bankruptcy in October 2022.

Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.

Bosses shuttered 400 stores as well and renegotiated leases.

Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.

Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.

The company also filed for bankruptcy in 2002.

At its peak, the company had more than 1,000 stores across the US.

The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.

The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.

Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Massive Company Now Announces Unexpected Layoffs in Alabama.
Market News Today – A Massive Company Now Announces Unexpected Layoffs in Alabama.

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