An unexpected company is now laying off in Nebraska according to a Worker Adjustment and Retraining Notification (WARN) notice.
Wellpath has announced that it will be laying off a total of 64 employees in Omaha.
The company issued the announcement in a letter to its employees.
“We are writing to give you notice that due to a change in contract, there will be a total closure of Wellpath healthcare operations at the location below.
All Wellpath employees assigned to this location will be separated as a result between August 31, 2024 and September 14, 2024, and the separation is expected to be permanent.
Wellpath was just notified of the contract change and thus pursuant to the unforeseeable business circumstance exception may be unable to provide impacted employees with the full 60 days’ notice,” the company said.
Affected employees are expected to be separated from employment beginning between August 31, 2024 and September 14, 2024.
There are no bumping rights for the affected employees, that is, employees will not be able to displace more junior employees out of their job positions as a result of this separation.
According to the letter, all Wellpath employees at this Nebraska site will be impacted.
Below is a list of other businesses who have laid off employees in Nebraska this year:
- Global Industries, Inc. 100 job cuts on 6/4.
- Bimbo Bakeries USA Inc. 165 job cuts on 5/10.
- Garner Industries. 63 job cuts on 5/6.
- Student Transportation of America (STA), Inc. 243 job cuts on 3/22.
- Cardinal Health. 5 job cuts on 1/9.
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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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