An unexpected company is now laying off in Missouri according to a Worker Adjustment and Retraining Notice filing.
Regency Enterprises Services filed a mass layoff notice in Missouri on Monday, advising that a total of 183 staff will be losing their jobs in St. Louis.
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.
The company layoffs in Missouri will be taking place on August 31, according to the filing.
Regency Enterprises Services, LLC was formed in Missouri in 2004.
Based in St. Louis, Regency was named one of the Top 25 Minority Owned Companies by St. Louis Business Journal and the owner, Charles Brown, was named one of the Top 100 People To Know In St. Louis by St. Louis Small Business Monthly.
“We are in the business of solving problems,” a company statement reads.
“A wise man once wrote “The best way to solve problems is to avoid them.””
“Everyone knows that isn’t always possible.
Whether there is an issue you don’t want internal resources to resolve or one you just don’t want to handle, Regency has the solution.
Contact us today to see how we can make your life easier.”
Below is a list of businesses who have already laid off employees in Missouri this year, or have filed WARN notices advising of upcoming job cuts in the state:
- Equilibrium Homes of St. Louis, LLC. 182 job cuts on 5/1.
- Student Transportation of America. 149 job cuts by 6/30.
- Missouri Central School Bus (MCSB). 332 job cuts by 6/30.
- Cygnus Home Service, LLC, d/b/a/ Yelloh. 10 job cuts on 5/3.
- Missouri Prime Beef Packers. 335 job cuts on 4/26.
- Oracle. 124 job cuts on 4/1.
- Winland Foods. 80 job cuts on 3/31.
- Block, Inc. 32 job cuts on 3/20.
- Tyson Foods. 3 job cuts on 3/1.
- Marsden Services, LLC. 93 job cuts on 2/20.
- Henkel. 102 job cuts on 2/7.
- SPS Ventures, Inc. 152 job cuts on 2/3.
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Also Read: Retirees Will Now Receive More Money For Social Security
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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