A massive company now makes an unexpected closure in Nebraska, abruptly affecting more than 150 workers.
Bimbo Bakeries, the world’s largest baking company, recently announced the closure of its Bellevue plant at Fort Crook and Chandler Roads in Nebraska.
The closure has taken many employees by surprise, with one employee expressing, “We were given 72 hours saying there was a mandatory meeting, and everybody was speculating that there was going to be a closure.
Closure of the plant in 60 days, everything will be closed,” said employee Willie Tucker.
“The unions have been notified.”
An official WARN notice has been filed with the Nebraska Department of Labor advising that a total of 165 staff will be laid off in July.
A letter addressed to the Nebraska Department of Labor and Mayor Rusty Hike goes on to read, “Other operations at the facility are expected to continue, and the facility will not be closed as a result of this action.”
Hike says the city hates to lose any jobs, and if the plant does shutter, he’s hoping another company will set up shop in its place.
“If the plant does for some reason, I mean, that another facility for someone to use and we don’t have something available, so hopefully whatever is vacated there is absorbed by somebody else or more jobs,” Hike said.
“This was a difficult decision because of the dedicated teams and community connection of the Bellevue Bakery,” said Marco Espinoza, Senior Director of Regional Operations, in a statement to 6 News.
“However, after careful analysis and consideration, it was apparent that the facility did not have the infrastructure and manufacturing capability to compete in the marketplace.
We value and respect our associates and will assist them as we can.”
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Other Economy News Today
A whopping 3,000 retail stores will now close this year after popular clothing brands Rue21 and and Express announced their closures.
The list now grows to approximately 3,100 stores shutting down by the end of this year, per The-Sun.
And this number figure is expected to grow as more businesses announce closures throughout the remainder of the year.
Rue 21 recently announced bankruptcy and a plan to close all 540 remaining stores across the US in the next six weeks.
Express also announced plans on closing over 100 stores across the US in addition to a store closure in Central New York.
If the rising rate of retailers closing down stores continues, an estimated 8,000 locations will be closed by the end of the year.
That many closures would be 40% more than the US saw last year.
In 2023, over 4,000 retailers shut down stores, which was twice the amount of store closures from 2022, according to the National Retail Federation.
2023 also saw the closing of hundreds of Bed, Bath and Beyond stores after the major retailer filed for bankruptcy.
The retailer cited inflation as the primary reason for shutting down its in person stores, moving to an online only format.
The inflation rates from January 2023 to January 2024 increased by 3.1%, with food prices rising by 2.6%, as reported by the Bureau of Labor Statistics.
In response to the rising rate of inflation, many stores are raising prices or risk closing.
One Canadian supermarket, Loblaws, raised its food prices so dramatically that customers are staging a boycott for the whole month of May.
The Dollar Tree, a retailer known for everything in its stores being $1 or less, announced that it will be raising prices on certain items to as high as $7.
“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” the company’s CEO, Rick Dreiling, said during an earnings call.
The last time the discount chain announced a price hike was in 2021 when prices on select items went from $1 to $1.25.
Aside from raising its prices, Dreiling also announced that over 1000 stores will most likely be closing in 2024.
Other major retailers such as Walgreens, Walmart, and JCPenney announced major closures this year.
Walmart announced store closures in California, Ohio, and Maryland–totaling to six closures so far this year.
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