Category: Layoffs (Page 1 of 16)

An Unexpected Wave of Massive Layoffs Now Hits Wisconsin

An unexpected wave of massive layoffs now hits Wisconsin according to a slew of WARN filings from multiple businesses.

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

Several businesses are advising of upcoming layoffs in Wisconsin according to fresh WARN data.

This year, a total of 4,377 employees were laid off in the state of Wisconsin across 51 businesses according to WARN Tracker, which tracks the WARN notices filed on every state.

Layoffs in Wisconsin 2024.
Layoffs in Wisconsin 2024.

Below is a list of businesses laying off in Wisconsin this year:

  • Sodexo. 51 job cuts by 6/30.
  • Mauser Packaging Solutions. 42 job cuts by 7/27.
  • Charter Communications. 50 job cuts by 7/8.
  • Kalmbach Media Co. 67 job cuts by 7/1.
  • Pace Industries LLC. 90 job cuts by 6/15.
  • Radial, Inc. 63 job cuts by 6/28.
  • Messmer Catholic Schools. 73 job cuts by 6/30.
  • Jennie-O Turkey Store Inc. 38 job cuts by 6/28.
  • JELD-WEN Inc. 338 job cuts by 6/10.
  • Walmart. 105 job cuts by 7/26.
  • Sientra Inc. 128 job cuts by 6/18.
  • Conagra Brands. 252 job cuts by 6/10.
  • Concordia University, Inc. 25 job cuts by 5/31.
  • Interflight Parking, LLC. 53 job cuts by 5/31.

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Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - An Unexpected Wave of Massive Layoffs Now Hits Wisconsin.
Market News Today – An Unexpected Wave of Massive Layoffs Now Hits Wisconsin.

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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Market News Today - An Unexpected Wave of Massive Layoffs Now Hits Wisconsin.
Market News Today – An Unexpected Wave of Massive Layoffs Now Hits Wisconsin.

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A Company Now Announces Massive Layoffs in Texas and California

A company now announces massive layoffs in Texas and California, part of a plan that aims to reduce its corporate workforce in the US.

Walmart recently notified state employment officials in Texas and California that a total of over 2,000 people in those states could be let go as part of previously announced corporate job cuts, though the company anticipates the number to land in the hundreds.

The notices come after Walmart last week confirmed corporate layoffs, with Chief People Officer Donna Morris saying in a May 14 memo that business changes “will result in a reduction of several hundred campus roles”.

Worker Adjustment and Retraining Notifications filed this week with Texas state employment officials indicate that up to 1,472 people who work two Dallas area Walmart sites may lose their jobs.

Walmart filed similar notices with California officials last week that up to 568 people may be let go from their employment in Santa Clara and San Mateo counties.

Many of the 388 people who could be impacted at Walmart’s San Bruno, California, location work remotely from home, according to a memo submitted to the California Employment Development Department provided to Retail Dive. An additional 180 people work at Walmart in Sunnyvale under similar arrangements.

The facilities are not closing, Walmart said in its memo to California employment officials and “we do not expect all impacted associates to experience employment loss due to this event.

In the interest of providing appropriate notice, however, we are doing so at this time.

We anticipate that many impacted associates will relocate or continue employment in a new position within the company before the end of a paid transition period.”

Walmart employees assigned to the affected California offices who are unable or unwilling to relocate or don’t get another job with the company will be let go starting August 9.

The layoffs may continue into early next year.

In Texas, Walmart said it plans to close one facility entirely and part of another.

A Dallas location employing 1,266 will close completely. Another in Carrollton will see the portion of the site that operated as a call center close on Aug. 9, with 206 people potentially impacted.

The Texas-based workers may also get laid off starting in August if they can’t relocate or find another job with Walmart.

For more layoff news and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - A Company Now Announces Massive Layoffs in Texas and California.
Market News Today – A Company Now Announces Massive Layoffs in Texas and 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% 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.”

For more news and updates like this, opt-in for push notifications.

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

Market News Published Daily 📰

Market News Today – A Company Now Announces Massive Layoffs in Texas and California.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



A New Round of Surprising Layoffs Is Now Hitting Colorado

A new round of surprising layoffs in now hitting Colorado as another business warns of another batch of upcoming job cuts.

Denver-based Guild, an online worker training platform, told their employees on Wednesday a quarter of them would lose their job.

The company didn’t specify the number of workers being laid off when asked, reports The Denver Post.

However, based on an estimated headcount of 1,200 employees, about 300 people may have lost their jobs.

The latest round of layoffs comes a year after the company let go of 172 workers or about 12% of its workforce of more than 1,400 people.

At the time, about half of its workforce was based in Colorado.

CEO Bijal Shah released the following statement on Wednesday:

“As Guild’s business continues to grow, we must ensure that we deliver on our mission as efficiently and effectively as possible.

To exceed our audacious goals, we shared with employees today that we have decided to restructure our organization.

This restructuring resulted in a reduction in our workforce.”

Shah said the restructuring would allow the company to “operate more efficiently, innovate faster, and continue to deliver strong outcomes for our stakeholders.”

Workers are being offered several months of severance, support to transition careers and a window of time to exercise their equity in the company.

Guild offers about 2,000 courses on its platform and counts several large corporations as clients, including Walmart, Target, Taco Bell and Chipotle.

The training ranges from career coaches to “upskill” modules that help workers earn a promotion to college-level courses.

Guild was cofounded in 2015 by Rachel Romer, the granddaughter of former Colorado Gov. Roy Romer and daughter of Chris Romer.

She built the company to a $4.4 billion value, making it one of Colorado’s ‘tech unicorns’.

For more layoff news and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - A New Round of Surprising Layoffs Is Now Hitting Colorado.
Market News Today – A New Round of Surprising Layoffs Is Now Hitting Colorado.

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.”

For more news and updates like this, opt-in for push notifications.

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

Market News Published Daily 📰

Market News Today - A New Round of Surprising Layoffs Is Now Hitting Colorado.
Market News Today – A New Round of Surprising Layoffs Is Now Hitting Colorado.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



This State Is Now Facing Unexpected US Bank Layoffs

This state is now facing unexpected US bank layoffs as yet another institution issues a warning to its employees.

Barclays filed a notice with the Ohio Department of Job and Family Services advising they would be closing a call center in Cincinnati, leading to a total of 252 employees losing their jobs.

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. 

The bank issued the following statement regarding the layoffs and closure of its facility:

“Barclays Services will be permanently closing its Cincinnati Call Center located at 1435 Vine St, Cincinnati, OH 45202, effective September 13, 2024, or within 14 days of that date.

As a result, most of the Barclays employees employed at this location will be permanently terminated from Barclays’ employment.”

None of the employees are represented by a union, and employees affected will not be entitled to transfer, reassignment, or bumping rights, the company said.

But Barclays isn’t the only business who has advised of upcoming job cuts in Ohio.

Below is a list of other businesses laying off in Ohio this year:

  • Associated Materials advised they were laying off 184 staff at a facility in Cuyahoga Falls on May 20.
  • Health Help has advised that 22 staff in Ohio will be laid off on June 28.
  • Optum is closing a facility in Toledo, which will result in 129 people losing their jobs.
  • Arlington Contact Lens Services will be laying off 151 staff in Columbus.
  • EVO Transportation advised they were laying off 82 staff at a location in Columbus in June.
  • Bon Appetit announced that 222 employees would be laid off due to losing a contract.
  • Oak View Group advised they were laying off 108 staff in Ohio.
  • Dollar General laid off 265 staff across several Ohio locations.
  • Sid Tool Company is closing a warehouse in Columbus, resulting in 130 employees losing their jobs.
  • Brightview Landscapes also filed a notice advising that 86 staff in New Albany were laid off on May 1.
  • Global food giant Nestle announced layoffs occurring at Nestlé USA’s Solon campus, which includes 30003 Bainbridge Rd, Solon, OH 44139, 5750 Harper Road, Solon, OH 44139, and 30000 Bainbridge Road, Solon, OH 44139. In total, 254 staff at the campus will lose their jobs in the coming months.
  • Amsive LLC advised the Ohio Department of Job and Family Services of job cuts to take place in May.

For more U.S. Bank Branch Closure news and updates, opt-in for push notifications.

Also Read: A Massive US Bank is Now Closing Credit Cards

Other Economy News Today

Market News Today - This State Is Now Facing Unexpected US Bank Layoffs.
Market News Today – This State Is Now Facing Unexpected US Bank Layoffs.

A banker is now convicted for stealing money from customers while working at Bank of America over a 10-year period.

The personal banker was arrested after her years-long scam, resulting in nearly $300,000 being stolen, came to light.

Police in Seneca, South Carolina said they received a report in 2013 about missing money from an account with Bank of America.

The victim, who also reported the incident to the Customer Service department, told police he was missing around $30,000.

Investigators worked with Bank of America for several weeks after the crime was reported and learned that an employee who had been stealing money from several people in Oconee County.

The police said the victims would use the Bank of America location in Seneca as their primary bank and Bobbi Cortese was their personal banker.

Seneca Police investigators and the US Secret Service spent nearly a decade doing more interviews.

Meanwhile, Bank of America was given time to complete an internal investigation.

It was revealed that Cortese had stolen nearly $300,000 from four people while working at the bank.

Some of the money was in the victims’ bank accounts for life insurance payouts related to the deaths of their spouses.

Others had a lifetime of earnings that was supposed to be used for their retirement, said police.

Cortese would open accounts under the victims’ names without their knowledge or consent and would perform a “shell game.”

This is when a scammer uses the money from one victim to replace what she stole from another victim.

After investigating further, police said Cortese forged several documents and issued them to the victims to hide the theft.

She committed these acts for about four years while working at the Bank of America, said police.

Cortese was arrested in May 2023 and charged with four counts of breach of trust and two counts of forgery.

She was later fired by the bank, reports The-Sun.

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Also Read: A Massive Bank Now Freezes Money From Direct Deposits

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Market News Today - This State Is Now Facing Unexpected US Bank Layoffs.
Market News Today – This State Is Now Facing Unexpected US Bank Layoffs.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



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