Four surprising companies now announces layoffs in Florida, according to the latest WARN filings advising of the upcoming cuts.
It’s important to note that under the Worker Adjustment and Retraining Notification (WARN) Act, companies are required to file an advance notice when planning to lay off 50 or more employees.
This ensures state and local assistance can be provided to those affected.
Below is a list of new businesses that have recently filed a WARN Notice with the Florida Department of Economic Opportunity advising of layoffs.
- Due to bankruptcy, the furniture retailer W.S. Badcock is closing a facility in Mulberry, resulting in a total of 101 employees losing their jobs on September 23.
- TTEC Government Solutions is shutting down its Volusia Tolling Program operations in Daytona Beach. As a consequence, a total of 126 employees, mostly toll collectors, will be laid off on September 30.
- Lutheran Services Florida is laying off 150 employees in Tampa, effective September 30.
- Winn-Dixie has permanently closed a store in Lakeland, leading to 48 employees losing their positions at that location.
These announcements reflect a series of job losses across different industries and locations in Florida, with the common thread being business closures, downsizing, and layoffs affecting hundreds of workers in the coming weeks.
According to WARN Tracker, there has been approximately 7,198 WARN layoffs in Florida across a total of 123 businesses.
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Also Read: Retirees Will Now Receive More Money For Social Security
Other Economy News Today
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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