An unexpected company now announces 100 job cuts in Maryland according to fresh WARN data advising of the upcoming layoffs.
Michigan food supplier SpartanNash plans to shutter one of its legacy distributions in Prince George’s County, more than a decade after it acquired the space as part of a $1.3 billion merger.
The Grand Rapids-based company, which operates a retail and wholesale arm, now plans to shut down its Landover facility by September 30.
The layoffs will impact a total of 141 people, according to a Worker Adjustment and Retraining Notification it submitted to the Maryland Department of Labor.
“As part of our continuous improvement, we regularly evaluate our supply chain network to identify ways to operate more efficiently and effectively,” a company spokesperson said in a statement.
“The changes we’ve made to our ways of working have positioned us to enhance the support we provide to our customers and to grow.
We’re committed to ensuring this is a smooth transition for our Associates and customers.”
The company is redistributing the work that took place in Landover to its other East Coast distribution centers, per the spokesperson.
Discussions are still ongoing, but it is offering impacted employees positions at its other facilities where possible and desired, reports Biz Journals.
What other businesses are laying off in Maryland?
Below is a list of businesses who have laid off in Maryland recently this year:
- Frederick Delights, Inc. 63 job cuts on 6/19.
- WillScot Mobile Mini. 33 job cuts on 7/5.
- Transdev, Inc. 498 job cuts on 6/30.
- First Transit, Inc. 408 job cuts on 6/30.
- Sodexo. 56 job cuts on 6/30.
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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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