A massive health company is now laying off workers as it plans to relocate a major facility to North Carolina, according to a WARN notice.
Pharmaceutical giant Pfizer will lay off a total of 119 workers this spring at a manufacturing facility in south Everett, according to a notice filed with the state.
Last month, Pfizer said it planned to “wind down construction” at the Seagen facility at 215 Shuksan Way.
At the time, the company said plant workers would be “impacted,” but did not say if they’d be laid off.
According to the WARN notice posted Wednesday, Pfizer will close the facility and lay off 119 plant workers with layoffs starting on June 3rd.
“This decision is not a reflection on the performances of our colleagues but is in alignment with our site capacity design to meet the needs of the business,” Pfizer said Wednesday in an email to The Daily Herald.
“We will make every effort to place impacted colleagues within open roles at the Bothell site.”
The massive 270,000-square-foot facility was originally being built for Seagen, the Bothell-based drug development firm.
In August 2023, Seagen signed a $215 million deal with contractor Skanksa to complete the plant by the end of this year.
The cancer-drug developer firm had planned to employ up to 200 people at the facility and manufacture medicine for clinical trials and the commercial market.
Plans changed, however, when Pfizer acquired Seagen for $43 billion in December. The purchase included the Seagen facility that is still under construction.
Instead of Everett, Pfizer will manufacture most of the products at a plant in North Carolina, the company said.
For more news and updates like this, opt-in for push notifications.
Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia
Other Economy News Today
A popular mall is now losing an unexpected retailer after an impressive 22 year run, citing it is the ‘right move’ for the company.
The Fashion Mall at Keystone in Indiana is getting a major design update and as part of the redevelopment, the Saks Fifth Avenue store in the mall will close.
“Simon is leading the evolution of today’s retail landscape with the strategic transformation of key properties across the country into best-in-class lifestyle destinations,” said Mark Silvestri, Simon’s President of Development, in a press release.
“The redevelopment further solidifies the Fashion Mall at Keystone’s dedication to providing a stand-out retail, lifestyle, and community-focused destination for the region.”
A spokesperson for Saks Fifth Avenue said the decision to close a store is “never easy,” but that this is the right move for the company.
“We are committed to treating every associate with respect and fairness throughout the process; all eligible associates will receive appropriate employment separation packages,” they said in a statement to The U.S. Sun.
The mall’s redesign will see a curated collection of highly sought-after retailers, an outdoor plaza, first-to-market dining and entertainment options, and new office spaces added to the space.
There is currently no update on when the store will close.
However, mall shoppers will still be able to enjoy luxury stores like Louis Vuitton, Gucci, and Tory Burch.
For more news and updates like this, opt-in for push notifications.
Also Read: Millions May Now See Higher Social Security Money Checks
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.