Another Wave of Unexpected Layoffs Now Hits Ohio

Another wave of unexpected layoffs now hits Ohio as more businesses file WARN notices advising of upcoming job cuts.

It’s important to note that the Worker Adjustment and Retraining Notification Act requires an employer with more than 100 full-time workers to provide a 60-day notice before laying off 50 or more people at a single site.

One of the most recent filings comes from International Automotive Components.

The company has filed an official notice with the Ohio Department of Job and Family Services advising that 175 staff in Ohio would lose their jobs in April.

However, this is not the only company who have advised of upcoming job cuts in Ohio.

Below is a list of businesses who have warned of upcoming layoffs in Ohio this year:

  • IAC Wauseon. 175 job cuts by 4/26.
  • Decorative Panels International Inc. 76 job cuts by 5/31.
  • Commercial Vehicle Group, Inc. 79 job cuts by 6/28.
  • Genpact. 64 job cuts by 4/12.
  • Walmart. 177 job cuts by 5/3.
  • Linamar Structures USA. 106 job cuts by 4/1.
  • ZIN Technologies, Inc. 122 job cuts by 3/31.
  • Nestle. 241 job cuts by 3/29.
  • VS Direct LLC. 120 job cuts by 3/16.
  • Newell Brands Distribution, LLC. 190 job cuts by 3/8.
  • GDI Services. 284 job cuts by 3/5.
  • St. Bernard Soap Company. 118 job cuts by 3/5.
Layoffs in Ohio 2024.
Layoffs in Ohio 2024.

So far in 2024, there has been 1,974 layoffs in Ohio across 17 businesses according to the latest WARN data.

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Also Read: A New Wave of Unexpected Layoffs Now Hits Wisconsin

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Market News Today - Another Wave of Unexpected Layoffs Now Hits Ohio.
Market News Today – Another Wave of Unexpected Layoffs Now Hits Ohio.

This massive restaurant is now closing 41 locations over the next quarter due to major underperformance, sources report.

Bloomin’ Brands will close 41 stores over the next quarter, reports Restaurant Dive.

These units include 36 “predominantly older, underperforming restaurants” and five Aussie Grill locations, including three in the U.S. and two in international markets, according to the company’s latest earnings release.

Bloomin’ decided to close the restaurants in question following a periodic review of assets that included consideration of trade area, historical performance and the investment required to renovate the units and strengthen their sales, CEO David Deno said on the company’s Q4 2023 earnings call.

The company will see “asset impairments and net closure charges of $32.3 million during Q4 2023.

We expect to complete these closures during Q1 2024 and incur charges of between $8 million and $11 million,” according Bloomin’s earnings release.

Deno said Bloomin’ would offer transfer opportunities to a large number of impacted employees and severance payments to those it cannot place.

The closures were not a reflection of the performance of individual employees, Deno said.

“A majority of these restaurants were older assets with leases from the 90s and early 2000s,” Deno told analysts.

Aussie Grill, the smallest of Bloomin’s brands, will be hardest hit by the closures.

According to the chain’s Q3 earnings release, the fast casual brand had 14 units at the start of Q4, with seven in the U.S. and seven in international markets.

The chain’s five closures represent a more than 35% drop in unit count for the brand.

Bloomin’ expects to open 40 to 45 new restaurants in 2024, in areas Deno described as “promising trade areas with great potential.”

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Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

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Market News Today - Another Wave of Unexpected Layoffs Now Hits Ohio.
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