A New Wave of Unexpected Layoffs Now Hits Wisconsin
A new wave of unexpected layoffs now hits Wisconsin 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.
On Tuesday, Lakeside Book Company officially filed a WARN Act notice with the Wisconsin Department of Workforce Development advising of impending layoffs.
They stated that a whopping 339 employees at a facility in Wisconsin will be laid off later in June.
“I regret to inform you that due to changing market conditions, Lakeside Book Company has decided to permanently close its print production facility located at 800 Midway Road, Menasha, Wisconsin 54952”, the company stated.
“This action is expected to result in the permanent separation of 339 employees.
The Company expects to begin employment separations on June 7, 2024 and will continue until the entire plant is closed on June 21, 2024.”
The facility at 800 Midway Road was built in 1946 by Banta Corp, and its closure will impact the local community.
Below is a list of businesses who have advised of upcoming layoffs in Wisconsin this year:
- Sierra Electrotek LLC. 37 job cuts by 3/8.
- DWF Wholesale Florists of Milwaukee. 8 job cuts by 3/8.
- Lakeside Book Company. 339 job cuts by 6/7.
- Del Monte Foods, Inc. 90 job cuts by 4/26.
- ABS Global. 36 job cuts by 4/19.
- ABS Global, GENUS INTELLIGEN TECHNOLOGIES (Windsor). 8 job cuts by 4/19.
- ODW Logistics. 107 job cuts by 4/14.
- Saputo Cheese USA Inc. 98 job cuts by 3/29.
- Sheridan Wisconsin. 116 job cuts by 4/13.
- H & S MFG CO Inc. 42 job cuts by 4/4.
- Hutchinson Technology Incorporated. 90 job cuts by 4/5.
- Rehabilitation Hospital of Western Wisconsin. 117 job cuts by 4/2.
- Charter Communications. 173 job cuts by 3/28.
- HSHS St. Joseph’s Hospital Chippewa Falls. 244 job cuts by 3/22.
- Prevea Clinic Inc. 385 job cuts by 3/22.
- Credit Union National Association (DBA America’s Credit Union). 38 job cuts by 3/15.
For more news and updates like this, opt-in for push notifications.
Also Read: SNAP Benefits Will Now Increase For The Year 2024
Other Economy News Today
This massive restaurant is now closing 41 locations over the next quarter due to major underperformance, sources report.
Bloomin’ Brands will close 41 stores over the next quarter, reports Restaurant Dive.
These units include 36 “predominantly older, underperforming restaurants” and five Aussie Grill locations, including three in the U.S. and two in international markets, according to the company’s latest earnings release.
Bloomin’ decided to close the restaurants in question following a periodic review of assets that included consideration of trade area, historical performance and the investment required to renovate the units and strengthen their sales, CEO David Deno said on the company’s Q4 2023 earnings call.
The company will see “asset impairments and net closure charges of $32.3 million during Q4 2023.
We expect to complete these closures during Q1 2024 and incur charges of between $8 million and $11 million,” according Bloomin’s earnings release.
Deno said Bloomin’ would offer transfer opportunities to a large number of impacted employees and severance payments to those it cannot place.
The closures were not a reflection of the performance of individual employees, Deno said.
“A majority of these restaurants were older assets with leases from the 90s and early 2000s,” Deno told analysts.
Aussie Grill, the smallest of Bloomin’s brands, will be hardest hit by the closures.
According to the chain’s Q3 earnings release, the fast casual brand had 14 units at the start of Q4, with seven in the U.S. and seven in international markets.
The chain’s five closures represent a more than 35% drop in unit count for the brand.
Bloomin’ expects to open 40 to 45 new restaurants in 2024, in areas Deno described as “promising trade areas with great potential.”
For more news and updates like this, opt-in for push notifications.
Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida
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.
Recommended For You ✨
Leave a Reply
You must be logged in to post a comment.
You can blame the above layoffs directly to the economy and Biden ‘s Build Back Bankrupt ans piles of S__T that run this country . All capital hill in Washington is made up of lyres , cheats , and thieves .
🤔 hmm, well said.
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.