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Investors Now Press Trump on The MMTLP Scandal: What’s Next?
Certain Banks and Credit Unions Can Now Freeze Accounts Under New Law
Margin Call Forces Citadel Rival Into $15 Billion Loss
Home Sales Fall To A New Record Low
More US Consumers Are Beginning to Cut Retail Spending
Beloved Grocery Store Ice Cream Company Now Files Unexpected Bankruptcy
Fed Report: Auto Loan and Mortgage Delinquencies Soar Amongst Americans
Another Grocery Store Chain Now Joins Major Trader Joe’s Recall
Home/Banking News/A New Wave of Unexpected Layoffs Now Hits Illinois
Market News Today - A New Wave of Unexpected Layoffs Now Hits Illinois

A New Wave of Unexpected Layoffs Now Hits Illinois

By Frank Nez
March 5, 2024
2
Updated on March 10, 2024

A new wave of unexpected layoffs now hits Illinois as more businesses file WARN notices advising of upcoming job cuts.

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.

In recent weeks, three logistics businesses in Illinois have filed mass layoff notices with the Illinois Department of Commerce and Economic Opportunity.

They include:

  • Quad Logistics Services closing a mail processing and distribution centre in Bolingbrook, Illinois, laying off 74 workers by 4 May.
  • Transportation and logistics provider Hillside Logistics announced it is closing a facility in Hillside, Illinois, resulting in 136 layoffs.
  • DHL Supply Chain is laying off 161 workers in Joliet, Illinois.

These layoffs highlight the challenges confronting the logistics sector, which is grappling with issues such as poor wage disparity, rising costs of living, and stark economic disparities within the state.

A spokesperson for Quad Logistics Services underscored the impact of economic fluctuations on the industry’s already slim profit margins.

“This is a strategic business decision that reflects several industry trends, including volume contractions in certain print categories like newsweeklies, as well as increases in postal costs.

Quad is offsetting these challenges through enhanced co-mail solutions that require centralized volumes for optimal processing,” said a company spokesperson.

Layoffs in Illinois 2024
Layoffs in Illinois 2024.

Below is a list of other businesses who have advised of upcoming layoffs in Illinois this year:

  • Amsted Rail Company, Inc. 80 job cuts filed on 2/26.
  • Rivian. 120 job cuts filed on 2/26.
  • Sunrise Coal, LLC – Russellville Portal (Mine 2). 35 job cuts filed on 2/23.
  • Daifuku Services America Corporation. 31 job cuts filed on 2/22.
  • Chicago Tribune. 198 job cuts filed on 2/15.
  • Kerry, Inc. 55 job cuts filed on 2/7.
  • Discover Financial Services. 108 job cuts filed on 1/18.

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Also Read: Clothing Retailer Now Makes Painful Decision To Close All Stores

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Other Economy News Today

Market News Today - A New Wave of Unexpected Layoffs Now Hits Illinois.
Market News Today – A New Wave of Unexpected Layoffs Now Hits Illinois.

A famous restaurant chain now closes its last location in one state after it was announced it would be demolished and replaced.

Hooters is closing down its restaurant in Charleston, West Virginia – the chain’s last remaining location in the Mountain State.

The joint is being demolished and replaced with a Scheetz gas station – much to the distress of many loyal customers.

Hundreds of regulars gathered for a candlelit vigil on Friday, February 23, reports The-Sun.

Although the idea began as a joke started by locals on Facebook, it ended up having a serious purpose.

The event turned into a fundraiser for a woman in the community who needs medical treatment – as well as a farewell to the beloved eatery.

Outside, former customers made chicken wings with Hooters wing sauce and served up copycats of its famous strip cheese sandwich.

Co-organizer of the vigil Leo Brown, told the crowd, “This building is a legitimate, iconic figure.”

“It’s a lot of memories going down with that building,” a former customer told local ABC affiliate WCHS-TV.

Others shared their sadness over the closure on social media.

One described it as “truly distressing” on Facebook.

“RIP to Hooters West Virginia,” said another on X, formerly known as Twitter.

Although the decision to close down came recently, the Charleston Hooters has not reopened since it was shuttered in March 2020.

It’s also not the only Hooters location to close down recently.

The chain also pulled the plug on its outlet in Lafayette, Louisiana after 25 years in January.

But the originator of the “breastaurant” format is not entirely on the decline.

It plans to open six new restaurants in 2024 – three in Las Vegas, Nevada, and three in Florida.

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Also Read: 68 Essential Stores Are Now Closing in Pennsylvania

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Market News Today - A New Wave of Unexpected Layoffs Now Hits Illinois.
Market News Today – A New Wave of Unexpected Layoffs Now Hits Illinois.

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Frank Nez

Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news publication, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

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  1. Frank Nez says:
    March 5, 2024 at 7:20 pm

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  2. Frank Nez says:
    March 5, 2024 at 7:19 pm

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