A wave of unexpected layoffs now hits Washington for 2024 as more businesses file WARN notices advising of upcoming job cuts.
The latest company to file a WARN notice in Washington is General Motor’s subsidiary company, Cruise LLC, which has advised it will let go of 67 staff in Bellevue.
The Bellevue layoffs are part of a broader downsizing strategy at Cruise, following the company’s decision to lay off approximately 900 employees, or 24% of its total workforce.
So far in 2023, there has been approximately 18,861 layoffs in Washington across 65 businesses according to the latest WARN data.
However, 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.
Below is a list of businesses who have filed WARN notices advising of upcoming layoffs in Washington:
- Zulily LLC. 292 job cuts by 2/07/2024.
- Cruise LLC. 67 job cuts filed 12/18.
- Broadcom. 158 job cuts by 1/26/2024.
- Alpha Technologies Services, Inc. 77 job cuts by 1/17/2024.
- Nordstrom. 67 job cuts by 2/01/2024.
- HMSHost. 65 job cuts by 12/31.
- Omron Microscan Systems, Inc. 57 job cuts by 2/02/2024.
- Target. 51 job cuts by 12/30.
- Magnum Venus Products. 47 job cuts by 12/30.
- American Nursery Services. 45 job cuts by 12/31.
- Target. 39 job cuts by 12/30.
Also Read: Massive Layoffs in California Now Underway Prior to Holidays
Other Economy News Today
A popular electric company now announces an unexpected bankruptcy leading to the sale of its assets after failing to recover from the pandemic.
The electric scooter company Bird, once valued at $2.5 billion by investors, filed for Chapter 11 bankruptcy protection in Florida federal court Wednesday, reports CNBC.
The company has entered into a “stalking horse” agreement, which sets a floor for Bird’s value, with its existing lenders, according to a release.
Bird said it will use the bankruptcy proceeding to facilitate a sale of its assets, which it expects to complete within the next 90 to 120 days.
The company’s electric scooters are “touted as an environmentally friendly alternative to driving and other forms of public transit.
They exploded in popularity before the onset of the Covid-19 pandemic, and the company raised more than $275 million in 2019, which pushed its valuation to $2.5 billion,” reports CNBC.
“But after customers stopped riding as they were forced into lockdown in 2020, Bird struggled to recover.
The company went public via a merger with a special purpose acquisition company in 2021, but its share price tumbled.”
Bird’s bankruptcy proceedings come after the New York Stock Exchange delisted the company in September.
Bird failed to comply with the exchange’s requirements after it was unable to keep its market capitalization above $15 million for 30 consecutive days.
The company’s shares began trading on the over-the-counter exchange later that month.
As of today, the stock is under $0.08.
Bird Canada and Bird Europe are not part of the company’s Wednesday filing and will “continue to operate as normal,” according to the release.
This is a developing story.
Also Read: A US Company Now Declares An Unexpected Bankruptcy
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