Another Facility in South Carolina Now Announces An Unexpected Closure

Another facility in South Carolina now announces an unexpected closure, resulting in the loss of nearly 200 jobs.

Stanley Black and Decker has filed a WARN notice advising of the upcoming layoffs in South Carolina.

The facility will close at the end of the year, resulting in a whopping 192 employees losing their jobs.

Just last year, the company closed a facility in Chesterfield leading to 179 job losses.

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.

Yesterday, Stanley Black & Decker filed a notice with the South Carolina Department of Employment and Workforce advising of impending job cuts due to a permanent closure of a facility in Fort Mill.

Last week, Gentherm, which supplies heated seats for the automotive facility, announced it was moving the manufacturing production undertaken at the South Carolina facility to Mexico.

The filing stated the closure would result in 124 staff at the facility losing their jobs from May 3.

Below is a list of other businesses that have filed WARN notices advising of upcoming layoffs in South Carolina:

  • Ascend Performance Materials. 52 job cuts by 3/31.
  • Fruit of the Loom. 119 job cuts by 3/22.
  • MAHLE Behr. 466 job cuts by 12/31.
  • Kohler Co. 71 job cuts by 4/19.

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Also Read: A Massive Mall Retailer Is Now Closing in California

Other Economy News Today

Market News Today - Another Facility in South Carolina Now Announces An Unexpected Closure.
Market News Today – Another Facility in South Carolina Now Announces An Unexpected Closure.

A leading tech company is now cutting a whopping 8,000 jobs, part of a plan to increase its AI output, sources confirm.

IBM told employees on Tuesday in its marketing and communications division that it is slashing the size of its staff, according to a person with knowledge of the matter.

Jonathan Adashek, IBM’s chief communications officer, made the announcement in a roughly seven-minute meeting with staffers in the unit, said the person, who asked not to be named because the news hasn’t been made public, reports CNBC.

In December, IBM CEO Arvind Krishna told CNBC that the company was “massively upskilling all of our employees on AI,” after it announced a plan in August to replace nearly 8,000 jobs with AI.

IBM said on its earnings call in January of last year that it was cutting 3,900 positions.

“In 4Q earnings earlier this year, IBM disclosed a workforce rebalancing charge that would represent a very low single digit percentage of IBM’s global workforce, and we expect to exit 2024 at roughly the same level of employment as we entered with,” IBM told CNBC in a statement.

The latest cuts come alongside another round of downsizing in the tech industry.

So far this year, some 204 tech companies have cut almost 50,000 jobs, according to the website Layoffs.fyi.

January was the busiest month for tech layoffs since March, as Alphabet, Amazon and Unity all announced massive job cuts.

IBM has returned to growth in the past couple years, but expansion remains muted, says CNBC.

“Revenue in the fourth quarter increased 4% from a year earlier even as earnings topped estimates. CFO James Kavanaugh spoke of workforce rebalancing on the earnings call.”

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Also Read: Another Business Now Announces Unexpected Layoffs in Kentucky

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Market News Today - Another Facility in South Carolina Now Announces An Unexpected Closure.
Market News Today – Another Facility in South Carolina Now Announces An Unexpected Closure.

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3 Comments

  1. Nikki

    No surprise with a minimum wage in the $7 hr range, while rentals soar nearing 2k, buying is similar to FL & Texas without the salary to support. A state that you pay taxes based on the accessors appraisal value, yes thats right a 7 year old high mileage used duct taped bungie cord held together gas guzzling clunker could cost you $500+ to drive yearly. Zero tourist attraction or growth, but building planting of housing developments, while majority of employment is below 32 hours. Poor Healthcare, minimal hospitals in the state. Yet they wonder why corporations are laying off, Zero growth, Zero opportunities for residents to support businesses. When resident communte several hours to surrounding states to work speaks volumes. It’s the good old boy state in the legal system supporting fraud and smaller companies taking advantage of tourist while the judicial system allows it. We see it daily It’s still a slave state just different type of slavery.

  2. Frank Nez

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