An unexpected company is now cutting jobs in Ohio according to a notice filed with the Ohio Department of Job and Family Services.
It’s important to note that under the Worker Adjustment and Retraining Notification Act, an employer with more than 100 full-time workers is required to provide a 60-day notice before laying off 50 or more people at a single site.
This week IAC Wauseon filed a notice with the Ohio Department of Job and Family Services advising that a total of 175 employees will be laid off in the state in the coming months.
Earlier in February, the company laid off a total of 218 employees, according to WTVG.
So far for 2024, there has been approximately 5,361 layoffs in Ohio across 46 businesses according to the latest WARN data.
IAC Wauseon isn’t the only company who has recently advised of upcoming layoffs in Ohio.
Below is a list of other businesses advising of upcoming job cuts in Ohio:
- Associated Materials laid off 184 staff at a facility in Cuyahoga Falls on May 20.
- Barclays advised they would be closing a call center in Cincinnati, leading to 252 staff losing their jobs.
- Health Help has advised that 22 staff in Ohio will be laid off on June 28.
- Optum is closing a facility in Toledo, which will result in 129 people losing their jobs.
- Arlington Contact Lens Services will be laying off 151 staff in Columbus.
- EVO Transportation advised they were laying off 82 staff at a location in Columbus in June.
- Bon Appetit announced that 222 employees would be laid off due to losing a contract.
- Oak View Group advised they were laying off 108 staff in Ohio.
- Dollar General laid off 265 staff across several Ohio locations.
- Sid Tool Company is closing a warehouse in Columbus, resulting in 130 employees losing their jobs.
- Brightview Landscapes also filed a notice advising that 86 staff in New Albany were laid off on May 1.
- Global food giant Nestle announced layoffs occurring at Nestlé USA’s Solon campus. In total, 254 staff at the campus will lose their jobs in the coming months.
- Amsive LLC advised the Ohio Department of Job and Family Services of job cuts to take place in May.
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Other Economy News Today
Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.
First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.
Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.
That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.
The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.
US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.
Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.
Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.
“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”
“Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.
The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.
While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”
Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”
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Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia
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