Jobs in South Carolina have now been lost to Mexico as a manufacturing plant announced the move to the neighboring country.
Gentherm has filed a WARN notice advising of the upcoming layoffs in South Carolina with the Department of Employment and Workforce.
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.
Gentherm, which supplies heated seats for the automotive facility, announced it was moving the manufacturing production undertaken at the South Carolina facility to Mexico.
The company’s board of directors approved on September 15 a plan to move its manufacturing operations in Greenville, South Carolina, to a new plant in Monterrey, in Mexico Nuevo Leon state, Genterm said in a filing with the US Securities and Exchange Commission (SEC).
“The plan is expected to reduce the company’s cost base, improve its financial performance and cash flow generation, and create a streamlined organization better positioned to meet its key financial and operational priorities,” the company said in a statement.
With the decision, Gentherm expands its manufacturing operations in Monterrey, where it already has a production center.
The company has other production centers in the country, in Ciudad Acuna, in Coahuila state, and in Celaya in Guanajuato state, according to its website.
“The plan is expected to reduce the company’s cost base, improve its financial performance and cash flow generation, and create a streamlined organization better positioned to meet its key financial and operations priorities,” the company said.
The filing stated the closure would result in 124 staff at the facility losing their jobs.
For more news and updates like this, opt-in for push notifications.
Also Read: A New Wave of Unexpected Layoffs Now Hits Wisconsin
Other Economy News Today
This massive grocery store is now shutting its doors soon at a historic location which has operated for over 60 years.
The Giant Food store on Langston Boulevard in Arlington, Virginia will permanently close on Thursday, February 29.
Giant Food has anchored the Lyon Village Shopping Center, at 3115 Langston Blvd. (formerly Lee Highway), for more than 60 years.
It is at the intersection of Langston Boulevard and Spout Run Parkway.
“In the normal course of evaluating our business and local trade areas, we determined that we can adequately serve this community through several other nearby Giant Food locations, as well as our online services, Giant Pickup and delivery,” Giant said in an emailed statement.
The nearest Giant Food store is on Washington Boulevard in Virginia Square, about a mile away.
Lyon Village Shopping Center’s other tenants include CVS Pharmacy, burger restaurant BGR, Starbucks, The Italian Store, and Big Wheel Bikes.
Giant said all employees at the Lyon Village store are being offered transfers to other Giant locations.
A spokesperson for the grocery store made the following statement:
“In our ongoing assessment of business dynamics and local trade areas, we’ve concluded that the needs of this community can be adequately met by several nearby Giant Food locations, as well as our online services, Giant Pickup, and delivery.
We want to express our sincere gratitude to the Arlington community for their support over the 60 years that Giant Food has been a part of this neighborhood, and we look forward to welcoming our shoppers at our other local Giant Food locations.
We appreciate the work our store associates have done to serve this community, and all associates from the store are being offered the opportunity to transfer to other Giant locations.
[Furthermore] We are committed to supporting our employees through this transition and ensuring that they have continued opportunities within our company.”
For more news and updates like this, opt-in for push notifications.
Also Read: This Massive Restaurant Is Now Closing 41 Locations
Market News Published Daily 📰
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), Instagram, Facebook, 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.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.