A new wave of unexpected layoffs now hits Tennessee as more businesses file WARN notices advising of upcoming job cuts.
Layoffs have increased across the nation, with employers in the United States employers announcing 45,510 cuts in November, a 24% increase from the 36,836 cuts announced in October.
Although layoffs are occurring nationwide, Tennessee is one of the states most impacted.
So far in 2023, more than 33,000 workers in Tennessee have been laid off.
This is the fifth highest of any state with a massive increase from 2022 when only 3,260 Tennessee workers were laid off.
While job losses mount, hiring opportunities are falling.
In November, employers announced plans to hire 15,566 workers for a year-to-date total of 775,501.
This figure is the lowest year-to-date total for announced hiring since 2015.
Below is a list of businesses who have advised of upcoming layoffs in Tennessee:
- Nyrstar Tennessee Mines – Gordonsville LLC. 300 job cuts by 12/31.
- Morgan Olson, LLC. 290 job cuts by 12/22.
- Red Stag Fulfillment. 185 job cuts by 2/28/2024.
- Ryman Hospitality Properties, Inc. 124 job cuts by 1/01/2024.
- Chick-fil-A. 84 job cuts by 2/06/2024.
- Newell Brands Industries LLC. 81 job cuts by 12/22.
- Cygnus Home Service dba Yelloh. 23 job cuts by 12/15.
California remains the #1 state with the most layoffs in the country.
In second place is New York followed by Texas, Washington, New Jersey, Florida, Michigan, and Georgia.
Also Read: Massive Layoffs in California Now Underway Prior to Holidays
Other Economy News Today
Massive bank branches will now close in Florida according to the latest data from the Office of the Comptroller of the Currency (OCC).
Between 2017 and 2021, 9% of all branches — almost 7,000 locations— shut their doors.
Florida had the fourth most closures of any state as banks continue to push customers to digital banking, according to CNBC.
“Clients use digital banking more than ever for their everyday financial needs, and come into financial centers for more complex transactions or discussions about their finances,” said Bank of America in a statement.
“So we have been adjusting our retail network where centers are located in close proximity to one another, or where client traffic has diminished significantly.”
In July, Wells Fargo laid off over 100 employees in Orlando’s consumer and small business banking division.
Despite the push to digital banking, many customers prefer to do their banking in a physical location.
There is a fear that closing so many branches can lead to ‘banking deserts’ and adversely impact lower income communities.
Below is a list of massive bank branches closing in Florida very soon:
- Bank of America. 8819 Hypoluxo Rd, Lake Worth (added to the list this week).
- Valley NB. 19495 Biscayne Blvd, Suite 500, Aventura (added to the list this week).
- Wells Fargo. 1600 Ridgewood Ave, Holly Hill
- Wells Fargo. 5849 Okeechobee Blvd, West Palm Beach
- Wells Fargo. 5355 Town Center Rd, Boca Raton
- Bank United. 1121 North Orange Ave, Winter Park
- US Bank. 515 North Flagler Dr, Suite 2100, Palm Beach
- Wells Fargo. 12233 North Florida, Tampa
- Wells Fargo. 219 Indian River, Ave, Titusville
- Wells Fargo. 2307 Del Prado Blvd, Cape Coral
- Wells Fargo. 3131 West Hallandale Beach Blvd, Hallandale
- Wells Fargo. 10191 Cleary Blvd, Plantation
- Wells Fargo. 113 South Tennessee Ave, Lakeland
- Wells Fargo. 4901 Tamiami Trail, South Naples
- Trustco Bank. 1084 Lee Rd, Orlando
- Bank of America. 126 East Olympia Ave, Punta Gorda
- Wells Fargo. 199 North Ocean Blvd, Pompano (closed this week)
Also Read: Wells Fargo is Now Freezing Bank Accounts in New Scandal
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