Category: California (Page 1 of 3)

People in California Are Now Being Told To Stay Indoors

People in California are now being told to stay indoors as wildfire smoke worsens air quality in the region, sources confirm.

Officials in Southern California are urging residents to remain indoors as worsening air quality from wildfire smoke poses health risks in the region.

The National Weather Service (NWS) in San Diego issued an air quality alert on Monday afternoon, prompted by the South Coast Air Quality Management District (AQMD).

This alert warns of increased fine particulate pollution due to nearby wildfires and is expected to remain in effect until 11 p.m. on Tuesday.

The alert advises, “If you smell smoke or see ash due to a wildfire, stay indoors with windows and doors closed or seek alternative shelter if possible.”

Residents are encouraged to avoid strenuous activities and to run air purifiers or air conditioning.

It is recommended to refrain from using whole-house fans or swamp coolers that draw in outside air, as well as to limit indoor pollution sources like candles and cooking methods that generate smoke.

If going outside is necessary, residents should do so briefly while wearing a tightly fitted N-95 mask or P-100 respirator to reduce smoke inhalation.

The areas affected by the alert include the Interstate 5 Corridor, the Western and Eastern San Gabriel Mountains, and numerous communities such as Tejon Pass, Gorman, Pyramid Lake, and the San Bernardino County Mountains, including Crestline and Lake Arrowhead.

NWS meteorologist Chandler Price noted that the smoke is primarily coming from the Line Fire in San Bernardino County and the Bridge Fire affecting both Los Angeles and San Bernardino counties.

While wildfire activity has calmed in recent days, changing weather patterns are expected to push smoke southeast of the fires.

Residents are also advised to limit the use of gasoline-powered lawn and garden equipment, as emissions can further degrade air quality.

“Exposure to particulate pollution can lead to serious health issues, worsen lung conditions, trigger asthma attacks, and increase the risk of respiratory infections,” the alert cautions.

Individuals with pre-existing heart or lung diseases, older adults, and children are particularly vulnerable and should minimize exposure, strenuous activities, or heavy exertion as conditions dictate.

As per the latest updates from the South Coast AQMD, most areas within the district currently report good air quality, although some regions are experiencing moderate air quality, which may pose risks for sensitive individuals.

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Also Read: New Amazon Layoffs Will Now Affect 300 Staff In California

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Market News Today - People in California Are Now Being Told To Stay Indoors.
Market News Today – People in California Are Now Being Told To Stay Indoors.

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New Amazon Layoffs Will Now Affect 300 Staff In California

New Amazon layoffs will now affect 300 staff in California, as the retail giant prepares to close two major facilities in the state.

Amazon has announced it will not renew leases for its warehouse facilities in Irvine and West Sacramento, California, leading to significant layoffs.

According to spokesperson Sam Stephenson, the closure in Irvine will result in 162 job losses, with the facility set to shut down on November 7.

In West Sacramento, 159 employees will be affected, with the closure effective October 30.

The decision to close these sites is part of Amazon’s ongoing evaluation of its network to ensure alignment with business needs and to enhance both employee and customer experiences.

Stephenson noted that the company is committed to assisting affected employees in finding new roles within Amazon, including opportunities at nearby fulfillment centers.

Amazon has been actively restructuring its operations by closing underperforming sites, upgrading existing facilities, and launching new ones to optimize its logistics network.

Following a period of rapid expansion during the pandemic, the company is now implementing significant cost-cutting measures to address excess capacity in its fulfillment operations, per Retail Dive.

You can search for layoffs in your state here, or follow our layoff news for updates.

Also Read: Cisco Now Profits Billions And Makes Thousands of Unexpected Layoffs

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Market News Today - New Amazon Layoffs Will Now Affect 300 Staff In California.
Market News Today – New Amazon Layoffs Will Now Affect 300 Staff In California.

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A Massive Clothing Brand Now Closing Distribution Center in California

A massive clothing brand is now closing a distribution center in California, part of a broader restructuring plan, the company confirmed.

Under Armour announced on Monday that it will close its primary distribution center in Rialto, California, as part of a comprehensive restructuring strategy.

The company plans to exit the facility by March 2026, resulting in an additional $70 million in restructuring charges, according to a press release.

The restructuring plan was first introduced in May, initially estimating costs between $70 million and $90 million.

However, with the closure of the distribution center, the projected charges have nearly doubled, now ranging from $140 million to $160 million.

This figure includes $37 million earmarked for employee severance and benefits, although the company has not disclosed how many employees will be affected.

Under Armour anticipates that about two-thirds of these charges will be incurred by the end of the current fiscal year, leading to a revised full-year outlook.

The company now expects an operating loss of $220 million to $240 million, a decline from the previous estimate of $194 million to $214 million.

Projected loss per share for the year has also worsened.

Chief Financial Officer David Bergman stated, “We continue to proactively identify opportunities to optimize our business to help create a better and stronger Under Armour.”

He emphasized that optimizing the supply chain will enhance the company’s efficiency and agility as it works to reconstitute its brand and improve financial productivity over the long term.

In an effort to simplify operations, CEO Kevin Plank announced in May that the brand would reduce its SKU count by 25% over the next 18 months, decrease reliance on external consultants, and reorganize product and marketing teams.

Plank returned to the CEO role in April, just a year after former CEO Stephanie Linnartz took the position, and has been vocal about strategies to realign the brand.

This includes significant investments in marketing and product development, as Plank acknowledged that the brand had begun to focus too heavily on selling based on logos and price tags, rather than conveying a compelling brand narrative.

The most recent quarter saw a 10% decline in revenue, resulting in a net loss of $305 million.

Under Armour has also made notable changes in its executive team, including appointing a new chief product officer and head of the Americas, as well as a new executive vice president of brand strategy and vice president of commercial for EMEA this year.

Last year, John Varvatos was brought on as chief design officer, among other leadership adjustments.

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Also Read: A Struggling Gas Station Chain Now Files An Unexpected Bankruptcy

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Market News Today - A Massive Clothing Brand Now Closing Distribution Center in California.
Market News Today – A Massive Clothing Brand Now Closing Distribution Center in California.

A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.

Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.

The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.

According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.

As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.

Many fans took to social media to express how upset they were with the loss.

“I knew it was coming, sadly,” UltraVada wrote in a post on X, formerly Twitter.

“It was inevitable,” a second person mourned.

“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.

“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”

One person revealed that they had forgotten the rental service had existed.

Some users were not surprised by the announcement.

“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.

“Also kinda remember getting into a feud with them on here.”

One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.

Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.

At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.

The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.

It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.

Also Read: This Massive Mall Retailer Is Now Closing In California

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Market News Today - A Massive Clothing Brand Now Closing Distribution Center in California.
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A New Round of Surprising Layoffs Now Hits California

A new round of surprising layoffs now hits California as more businesses file WARN notices advising of the upcoming job cuts.

California is bracing for a significant wave of layoffs as multiple companies across diverse industries have recently filed Worker Adjustment and Retraining Notification (WARN) notices.

From biotech firms to technology giants, thousands of employees are poised to lose their jobs in the coming months, particularly in major cities like San Francisco, Irvine, and San Diego.

These WARN notices underscore the ongoing challenges workers face in an increasingly uncertain job market.

It’s important to note that the Worker Adjustment and Retraining Notification (WARN) Act requires employers to provide 60 days’ notice to employees and local government officials before implementing mass layoffs or closing facilities.

This federal law aims to give workers time to seek new employment or explore retraining options.

Recently filed WARN notices with the California Employment Development Department reveal the extent of the upcoming layoffs:

  • Enervenue: 65 employees to be laid off in Fremont in November.
  • ChargePoint: 64 employees to be let go in Campbell on November 4.
  • Edwards Lifesciences: 192 staff in Irvine facing layoffs.
  • Hogan Personnel: 92 staff in Fontana to be laid off on November 2.
  • Intel: Additional staff cuts across California.

In September alone, several companies submitted WARN notices, including:

  • Cisco: 53 employees in San Jose laid off on October 18.
  • Genentech: 93 staff in San Francisco to be let go on October 8.
  • Vir Biotechnology: 141 employees in San Francisco facing layoffs.
  • Ajinomoto Bio-Pharma Services: 127 staff in San Diego to be laid off on September 30.
  • Illumina: 49 employees in San Diego laid off on October 1.
  • FibroGen: 127 staff in San Francisco facing layoffs.
  • Velo3D: 42 employees in Fremont to be laid off.
  • Mosaic Culver: Staff layoffs in Culver City.
  • Mama’s Ladera Ranch: Permanent closure leading to job losses in October.
  • Menzies Aviation: 91 employees in Los Angeles to be laid off on October 31.
  • AT&T: 20 employees terminated in San Ramon.
  • Fermented Sciences: 50 staff cuts in Ventura.
  • Bright Innovations Lab: Facility closure in Santa Clarita resulting in mass layoffs.

As these layoffs unfold, the economic landscape in California continues to shift, reflecting the broader challenges faced by workers in today’s unpredictable job market.

You can search for layoffs in your state here, or follow our layoff news for updates.

Also Read: Cisco Now Profits Billions And Makes Thousands of Unexpected Layoffs

Layoff and Unemployment Report

Market News Today - A New Round of Surprising Layoffs Now Hits California.
Market News Today – A New Round of Surprising Layoffs Now Hits California.

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%, it as seen 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 earlier this quarter: “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: Retirees Will Now Receive More Money For Social Security

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Market News Today - A New Round of Surprising Layoffs Now Hits California.
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X Is Now Ditching Its Headquarters in California For Texas Soon

X is now ditching its headquarters in California for Texas soon according to several news reports confirming the dates.

X, the social media platform previously known as Twitter, is set to close its San Francisco headquarters in two weeks, specifically on Friday, September 13, according to reports.

The company, owned by Elon Musk, circulated an internal memo earlier this month, as noted by the New York Times, indicating plans to shut down the SF HQ “over the next few weeks.”

A follow-up report from Fortune revealed that the company informed employees on Thursday about the permanent closure of the headquarters on September, Friday the 13.

Located on Market Street in the struggling mid-Market area, the SF office has been the global headquarters for the social media platform.

According to the New York Times, employees at the San Francisco office will be relocating to existing offices in San Jose.

Musk, who acquired Twitter in 2022 and rebranded it as X, announced in July that the company would be moving its headquarters to Austin, Texas.

The SpaceX CEO has been critical of several of California’s policies over the years as he migrates his companies to business-friendly Texas.

Tesla’s global headquarters officially moved from California to Austin in late 2021, after tension with California’s government over stringent COVID-19 restrictions.

Since 2020, almost 150 companies have relocated to Texas, with 40% of them moving from California.

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Also Read: Thousands of Unexpected Layoffs Now Hit Ohio

Other Economy News Today

Business News Today - X Is Now Ditching Its Headquarters in California For Texas Soon.
Business News Today – X Is Now Ditching Its Headquarters in California For Texas Soon.

Wells Fargo is now accused of overcharging customers in a lawsuit that alleges the bank giant has participated in unethical behavior.

A Wells Fargo customer named Barbara Prado has filed a proposed class-action lawsuit against the bank, alleging that Wells Fargo has been overcharging thousands of its customers on their mortgage loan accounts.

According to Prado, Wells Fargo realized there was an error in the charges, but instead of being transparent about it, the bank simply sent out cashier’s checks to affected customers to try to settle the damages without explaining what had happened.

Prado claims that Wells Fargo’s representatives are unable or unwilling to tell customers how much they were overcharged or how the amounts in the cashier’s checks were determined.

She argues that the bank’s actions have been “illusory and wholly inadequate” and have left consumers facing ongoing harm and out-of-pocket losses that have not been properly reimbursed.

The lawsuit alleges that Wells Fargo is guilty of unjust enrichment and has violated California’s Unfair Competition Law.

It also claims that the bank has violated California’s penal code by receiving property that was obtained through theft and by concealing or withholding that stolen property.

Overall, the lawsuit accuses Wells Fargo of systematically overcharging its mortgage customers and then attempting to cover up the issue through opaque and inadequate remedial actions.

Separately, Wells Fargo is facing a federal investigation over issues in its anti-money laundering and sanctions programs, the bank said.

Since September 2016, WFC faced significant challenges with numerous penalties and sanctions, including a cap on the asset position by the Federal Reserve.

Earlier this month, Wells Fargo faced a class action lawsuit alleging that it mismanaged its employee health insurance plan, forcing thousands of U.S.-based employees to overpay for prescription medications.

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Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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