Category: Market News (Page 2 of 487)

A New Round of Unexpected Layoffs Now Hits Colorado

A new round of unexpected layoffs now hits Colorado 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.

Checkr is the latest company to file a notice with the Colorado Department of Labor and Employment advising of the mass layoffs.

According to the WARN filing, a total of 92 employees will be laid off on June 10.

“This letter constitutes official notice that Checkr, Inc. (“the Company”) will be reducing its workforce assigned to its facility located at 1621 18th Street #300, Denver, CO 80202 (the “Denver facility”).

This planned action is expected to be permanent and affects all selected Denver-facility assigned employees, some of whom work remotely.

Employees assigned to the Denver facility are scheduled to be separated from their jobs on June 10, 2024, or during the 14-day period beginning on that date,” the company stated.

Other businesses laying off in Colorado this year include:

  • HealthHelp (a WNS Company). Undisclosed, by 6/2.
  • Volta/Volta Charging Industries. Undisclosed, by 5/31.
  • Atrium Hospitality LP/Denver Crowne Plaza. 56 job cuts by 5/31.
  • Bionano Genomics Inc. 76 job cuts by 5/24.
  • Carestream Health Inc. – Update. 19 job cuts by 5/24.
  • Developmental Disabilities Resource Center. 46 job cuts by 6/30.
  • Packers Sanitation Services, Inc.’s (PSSI). 175 job cuts by 4/18.
  • ComuteAir. 80 job cuts by 5/23.
  • Daifuku Services America Corporation. 161 job cuts by 4/22.

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

Also Read: A Giant Company Now Makes Unexpected Layoffs in Kentucky

Other Economy News Today

Market News Today - A New Round of Unexpected Layoffs Now Hits Colorado.
Market News Today – A New Round of Unexpected Layoffs Now Hits Colorado.

A new round of unexpected bank closures hits Texas according to fresh data from the Office of the Comptroller of the Currency.

According to the data, five more bank branches closed this week in Texas, adding to the growing number of shuttered bank buildings in the state.

Below is a list of the latest bank branch closures in Texas, per the OCC:

  • Capital One. 5431 Bissonnet St, Houston
  • Capital One. 21210 Kuykendahl Rd, Spring
  • Capital One. 4414 N. Freeway, Suite 1000, Houston
  • Capital One. 25907 Northwest Freeway, Cypress
  • Capital One. 7919 Kirby Dr, Houston

Its Woodforest NB. 8000 Research Forest location will shutter soon.

According to official US Government data, over 220 bank branches closed across the nation in January and February, with Texas being one of the most impacted states in the country.

The federal regulator found Bank of America, US Bank and Citizens led the charge with the national banks accounting for nearly half of all closures, reports GBNews.

These banking groups closed 92 locations within the space of eight weeks with 222 sites closing down during the period overall.

If banks across the United States continue to shut down at their current rate, around 1,300 will close by the end of 2024.

The rate of bank branch closures has been exacerbated due to the Covid pandemic which resulted in people relying on online banking services due to staying at home.

“If the trend of current bank branch closings continues, there may be no bank branches left in 10 years,” reported TheStreet.

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

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Market News Today - A New Round of Unexpected Layoffs Now Hits Colorado.
Market News Today – A New Round of Unexpected Layoffs Now Hits Colorado.

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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 Unexpected Bank Closures Hits Texas

A new round of unexpected bank closures hits Texas according to fresh data from the Office of the Comptroller of the Currency.

According to the data, five more bank branches closed this week in Texas, adding to the growing number of shuttered bank buildings in the state.

Below is a list of the latest bank branch closures in Texas, per the OCC:

  • Capital One. 5431 Bissonnet St, Houston
  • Capital One. 21210 Kuykendahl Rd, Spring
  • Capital One. 4414 N. Freeway, Suite 1000, Houston
  • Capital One. 25907 Northwest Freeway, Cypress
  • Capital One. 7919 Kirby Dr, Houston

Its Woodforest NB. 8000 Research Forest location will shutter soon.

According to official US Government data, over 220 bank branches closed across the nation in January and February, with Texas being one of the most impacted states in the country.

The federal regulator found Bank of America, US Bank and Citizens led the charge with the national banks accounting for nearly half of all closures, reports GBNews.

These banking groups closed 92 locations within the space of eight weeks with 222 sites closing down during the period overall.

If banks across the United States continue to shut down at their current rate, around 1,300 will close by the end of 2024.

The rate of bank branch closures has been exacerbated due to the Covid pandemic which resulted in people relying on online banking services due to staying at home.

“If the trend of current bank branch closings continues, there may be no bank branches left in 10 years,” reported TheStreet.

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

Also Read: A Giant Company Now Makes Unexpected Layoffs in Kentucky

Other Economy News Today

Market News Today - A New Round of Unexpected Bank Closures Hits Texas.
Market News Today – A New Round of Unexpected Bank Closures Hits Texas.

A massive beverage company now files an unexpected bankruptcy to ‘focus on the best interests of its creditors and other stakeholders.’

Boisson, which curates the best collection of non-alcoholic spirits, beers, and wines as well as mixology supplies including shrubs, syrups, mixers, and more has filed for Chapter 11 bankruptcy protection.

The company also shuttered its eight brick-and-mortar stores, according to multiple media reports and a LinkedIn blog post by Boisson founder Nicholas Bodkins.

However, the non-alcoholic (NA) beverage brand plans to continue operating as a wholesaler and a DTC ecommerce retailer, reports Retail Touch Points.

Boisson had taken a “neighborhood stores” approach to brick-and-mortar expansion, opening stores in NYC, San Francisco, Los Angeles and Miami.

“Boisson’s Board of Directors has determined that entering into a restructuring process for the company to shift its operational focus is in the best interests of its creditors and other stakeholders,” Bodkins wrote.

“This and other difficult decisions have been made, including the decision to close all retail locations.

While this is certainly disappointing, taking these actions will allow the company the opportunity to put forth a restructuring plan aimed to focus on the wholesale distribution and ecommerce divisions, which continue to operate, accepting and fulfilling orders without interruption.”

Bodkins took pains to stress that Boisson’s setback is not a failure for the NA category at large.

“No one should consider this anything other than what it is: a failed venture-backed startup that grew too quickly, made mistakes, and wasn’t able to find capital fast enough to continue to build three businesses at the same time (bricks-and-mortar retail, ecommerce, and wholesale import/distribution), which in hindsight, proved to be impossibly hard to execute,” he wrote.

“I am proud that we served more than 250,000 customers, of the deep and meaningful wholesale partners who embraced NA for their customers, and proud of the awareness and education we brought to consumers, introducing them to NA through partnerships we forged with brands and communities,” Bodkins added.

Detailed information about Boisson’s restructuring plans was not available at press time.

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

Market News Published Daily 📰

Market News Today - A New Round of Unexpected Bank Closures Hits Texas.
Market News Today – A New Round of Unexpected Bank Closures Hits Texas.

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 Massive US Bank Now Closes More Branches in Ohio

A massive US bank now closes more branches in Ohio according to fresh data from the Office of the Comptroller of the Currency.

Last month, the ​Office of the Comptroller of Currency reported that Park National Bank closed a total of ten locations in Ohio in just one week.

They included:

  • 898 East St, Athens
  • 2810 Maysville Pike, Zanesville
  • 220 E. State St, Newcomerstown
  • 1274 Hills Road N, Pickerington
  • 205 North Seltzer St, Crestline
  • 2148-G Eagle Pass, Wooster
  • 800 North Main St, Celina
  • 8 West Maple St, North Lewisburg
  • 2035 Dayton Lakeview Rd, New Carlisle
  • 1176 West Main St, Tipp City

Now the OCC has released an updated roster of the following US Bank branches closing in Ohio this year:

  • 350 Euclid Ave, Cleveland
  • 38 North Broadway St, Farmerville
  • 64 North Main St, Cedarville
  • 123 North Reed Ave, Malvern
  • 85 West Main St, Shelby

Last year, Crains Cleveland reported that Ohio outpaced the national average for bank branch closures.

In Ohio, 4.8% of branches were closed between 2020 and 2021, while 4.3% shuttered between 2021 and 2022.

This compares with the national average of 3.2%.

The closure of bank branches has led industry experts to believe low income communities will be left with ‘bank deserts’.

“If the trend of current bank branch closings continues, there may be no bank branches left in 10 years,” reported TheStreet.

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

Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

Other Economy News Today

Market News Today - A Massive US Bank Now Closes More Branches in Ohio.
Market News Today – A Massive US Bank Now Closes More Branches in Ohio.

Three massive bank branches are now closing in California according to fresh data from the Office of the Comptroller of the Currency.

This week, two giant banks closed two branches in the golden state.

Bank of America closed its location on 3591 Mission Blvd, Fremont while JPMorgan shuttered its branch on 1030 W Alameda Ave, Burbank.

However, three additional major bank branches have now made the list of upcoming closures in California.

The Office of the Comptroller of the Currency details that the following bank branches will be closing in California soon:

  • Bank of America. 225 Canyon Crest Dr, Riverside
  • Bank of America. 8949 Clairemont Mesa Blvd, San Diego
  • Bank of America. 7404 Jackson Dr, San Diego

According to official US Government data, over 220 bank branches closed across the nation in January and February, and California was the state most impacted.

The federal regulator found Bank of America, US Bank and Citizens led the charge with the national banks accounting for nearly half of all closures, reports GBNews.

These banking groups closed 92 locations within the space of eight weeks with 222 sites closing down during the period overall.

If banks across the United States continue to shut down at their current rate, around 1,300 will close by the end of 2024.

Steven Reider, the founder and president of Bancography, cited the growing confidence among banks in being able to provide sufficient financial services online.

In January and February, Bank of America’s 41 branch closures having potentially saved the financial institution nearly $100million.

Redier explained: “’Banks are willing to close a branch that isn’t really overlapping any other branch on the gamble that customers are willing to drive a little bit further.

“I think Bank of America has leaned into that more than the other large banks have.”

The rate of bank branch closures has been exacerbated due to the Covid pandemic which resulted in people relying on online banking services due to staying at home.

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

Also Read: California’s New $20 Minimum Wage Now Creates Painful

Market News Published Daily 📰

Market News Today - A Massive US Bank Now Closes More Branches in Ohio.
Market News Today – A Massive US Bank Now Closes More Branches in Ohio.

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 Giant Company Now Makes Unexpected Layoffs in Kentucky

A giant company now makes unexpected layoffs in Kentucky despite a big jump in its profitability, per market analysts.

Quanex Building Products has filed a WARN notice advising that a total of 140 employees will be affected due to its Bluegrass closure.

The notice date was given on Tuesday the 9th with the layoffs in Kentucky expected by June 7.

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.

Shares of the company are down more than -8% in the past five trading days despite an increase in its ROCE score.

“Quanex Building Products’ ROCE growth is quite impressive. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 180% in that same time.

So it’s likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn’t changed considerably,” reports Yahoo Finance.

ROCE measures the ‘return’ (pre-tax profit) a company generates from capital employed in its business.

Last month, the following businesses also announced they were laying off in Kentucky:

  • Packers Sanitation Services Inc. (PSSI). 78 job cuts.
  • PACKERS SANITATION SERVICES, INC. 79 job cuts.
  • GUESS Distribution Center. 200 job cuts.
  • Pride Mine (formerly Survant Mine). 230 job cuts.

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

Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

Other Economy News Today

Market News Today - A Giant Company Now Makes Unexpected Layoffs in Kentucky.
Market News Today – A Giant Company Now Makes Unexpected Layoffs in Kentucky.

Three massive bank branches are now closing in California according to fresh data from the Office of the Comptroller of the Currency.

This week, two giant banks closed two branches in the golden state.

Bank of America closed its location on 3591 Mission Blvd, Fremont while JPMorgan shuttered its branch on 1030 W Alameda Ave, Burbank.

However, three additional major bank branches have now made the list of upcoming closures in California.

The Office of the Comptroller of the Currency details that the following bank branches will be closing in California soon:

  • Bank of America. 225 Canyon Crest Dr, Riverside
  • Bank of America. 8949 Clairemont Mesa Blvd, San Diego
  • Bank of America. 7404 Jackson Dr, San Diego

According to official US Government data, over 220 bank branches closed across the nation in January and February, and California was the state most impacted.

The federal regulator found Bank of America, US Bank and Citizens led the charge with the national banks accounting for nearly half of all closures, reports GBNews.

These banking groups closed 92 locations within the space of eight weeks with 222 sites closing down during the period overall.

If banks across the United States continue to shut down at their current rate, around 1,300 will close by the end of 2024.

Steven Reider, the founder and president of Bancography, cited the growing confidence among banks in being able to provide sufficient financial services online.

In January and February, Bank of America’s 41 branch closures having potentially saved the financial institution nearly $100million.

Redier explained: “’Banks are willing to close a branch that isn’t really overlapping any other branch on the gamble that customers are willing to drive a little bit further.

“I think Bank of America has leaned into that more than the other large banks have.”

The rate of bank branch closures has been exacerbated due to the Covid pandemic which resulted in people relying on online banking services due to staying at home.

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

Also Read: California’s New $20 Minimum Wage Now Creates Painful Layoffs

Market News Published Daily 📰

Market News Today - A Giant Company Now Makes Unexpected Layoffs in Kentucky.
Market News Today – A Giant Company Now Makes Unexpected Layoffs in Kentucky.

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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