An Unexpected Round of Layoffs Now Hits New York

An unexpected round of layoffs now hits New York as more businesses file WARN notices advising of upcoming job cuts.

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.

This past week, several businesses filed WARN notices with the New York Department of Labor advising they would be laying off staff.

Below is a new list of businesses laying off in New York this year:

  • Wineshipping.com, LLC. 54 job cuts, filed 3/29.
  • Our Lady of Mercy Academy. 50 job cuts, filed 3/28.
  • Marquardt Switches, Inc. 14 job cuts, filed 3/27.
  • UPS. 103 job cuts, filed 3/27.
  • Aspen ML, LLC. d/b/a Aspen Capital. 13 job cuts, filed 3/27.
  • First Transit, Inc. a subsidiary of Transdev, North America Inc. 65 job cuts, filed 3/27.
  • Bionano Genomics, Inc. 2 job cuts, filed 3/26.
  • API Heat Transfer Inc. d/b/a Airtech. 130 job cuts, filed 3/20.
  • Velan Studios Inc. 46 job cuts, filed 3/20.
  • Vascular Management Consultants, LLC and K&H Medical, PLLC. 72 job cuts, filed 3/19.
Layoffs in New York 2024.
Layoffs in New York 2024.

So far in 2024, there has been approximately 6,563 layoffs in New York across 65 businesses according to the latest WARN data.

However, in just the first two months of 2024, a whopping 35,279 New Yorkers have lost their jobs, nearly double the 19,439 layoffs recorded during the same period last year, according to Challenger.

The surge in job losses has propelled New York to the top of the nation in terms of job cuts, leapfrogging from its third-place ranking the previous year.

While the layoff figures continue to climb, hiring plans have taken a nosedive.

In February, employers announced plans to hire a mere 10,317 workers, bringing the year-to-date total for announced hiring plans to a paltry 15,693 – the lowest level on record since Challenger began tracking hiring plans in 2009.

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Also Read: A Giant Company Now Announces Unexpected Layoffs in Maryland

Other Economy News Today

Market News Today - An Unexpected Round of Layoffs Now Hits New York.
Market News Today – An Unexpected Round of Layoffs Now Hits New York.

A popular breakfast restaurant now makes unexpected closures in the same state after profitability was impacted by inflation.

Denny’s has shut down two locations in Idaho – one in Boise and the other in Nampa.

Each of the location’s Facebook pages has them listed as permanently closed.

The news comes after a recent company earnings call where Denny’s’ Executive Vice President and Chief Financial Officer, Robert Verostek, confirmed it will be closing around 60 locations.

Verostek mentioned that inflation impacted the company’s profitability calling the financial losses a “break point of a closure.

“So we are continuing to work through some additional closures that as a result of those inflationary pressures,” he added.

Most of the Denny’s locations operate as franchises.

In fact, the chain’s website states that there are 1,631 restaurants, 1,558 of which were franchised and licensed.

While the company plans to close around 50 to 70 locations, Verostek said in the earnings call that there will also be new restaurants opening.

Verostek said that there will be about 40 to 50 openings.

However, 12 to 16 of those will be Keke’s.

This isn’t the first closure Denny had to make in Idaho.

The restaurant closed up shop at a location in Chubbuck – the southeastern portion of the state.

Denny’s confirmed it served its last Grand Slam back on February 11.

Additionally, they noted that the decision to shutter was made by the owner of that location, not by the company itself.

“Deciding to close a restaurant is never an easy decision, and that decision was made by the local owner,” Denny’s wrote.

The nearest location was about 50 miles from Chubbuck, however, that restaurant closed only four months prior.

Another location out of Oakland, California shut its doors back in January.

Customers walked up to the restaurant on 601 Hegenberger Road to a sign on the door after it closed at 1 pm.

The sign explained the reason for the closure.

“Closing a restaurant location is never an easy decision or one taken lightly,” it read.

That location had been open for 54 years.

Also Read: A Massive Discount Retailer Is Now Closing 600 Stores

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Market News Today - An Unexpected Round of Layoffs Now Hits New York.
Market News Today – An Unexpected Round of Layoffs Now Hits New York.

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