A massive US company will now lay off in Michigan early this year as the vehicles they produce end production, sources report.
GM plans to lay off 1,300 employees in Michigan across two major plants.
945 workers at Orion Assembly who build Chevrolet Bolt models, which are ending production in 2024, will be laid off.
The other 369 workers to be laid off are at GM’s Lansing Grand River Assembly/Stamping, which will no longer produce the Chevrolet Camaro.
The first round of layoffs occurred on January 1st, per CNBC.
GM will retool Orion to build electric trucks.
The plant is expected to come back online in late 2025, per the reports.
“Lansing Grand River Assembly informed employees today that the plant will adjust staffing levels due to the end of Camaro production,” GM said in a statement.
“As a result, about 350 employees will be affected beginning Jan. 2.
GM anticipates having job opportunities for all impacted team members per the provisions of the UAW-GM National Agreement.”
Layoffs at Grand River will begin Jan. 2 and continue through March, according to the WARN notice documents.
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Also Read: SNAP Benefits Will Now Increase For The Year 2024
Other Economy News Today
A massive retailer is now closing stores inside Target, part of a plan to reduce its density after already shuttering several locations.
CVS said this week that it plans to close some pharmacies that are located inside Target stores.
The pharmacy closures will begin in February and be completed by the end of April, a CVS spokesperson confirmed to Retail Dive.
The closures are part of CVS’ plan to realign its national retail footprint and reduce store and pharmacy density.
Employees affected by the Target store-in-store closures will be offered comparable roles within the company.
Unfortunately, CVS declined to identify the locations slated for closure.
However, the pharmacy retailer did state that it has about 1,800 locations inside Target stores.
Prescriptions at closing locations will be transferred to a nearby CVS Pharmacy, the company said.
CVS acquired Target’s pharmacy business in 2015.
The deal was worth a whopping $1.9 billion, The Wall Street Journal reported.
The partnership was “a significant shift” in Target’s business model, CEO Brian Cornell said in a blog post at that time.
Rather than invest its own resources into in-store healthcare, the company instead chose to rely on “an expert partner” which gave Target the bandwidth to focus on growing its overall wellness business, the company said.
“The closures are part of our plan to realign our national retail footprint and reduce store and pharmacy density and are based on our evaluation of changes in population, consumer buying patterns and future health needs to ensure we have the right pharmacy format in the right locations for patients,” CVS spokesperson Amy Thibault said in an email.
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Also Read: A US Company Now Declares An Unexpected Bankruptcy
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