Massive Companies Are Now Laying Off Thousands in California

Massive companies are now laying off thousands in California as more businesses file WARN notices advising of upcoming job cuts.

The Golden State is the #1 state with the most WARN layoffs according to WARN Tracker.

This year, there has been approximately 37,086 WARN layoffs in California across 713 businesses.

The Worker Adjustment and Retraining Notification (WARN) Act mandates that employers provide a 60-day notice to employees and local government officials in advance of plant closings and mass layoffs.

This federal law is designed to give workers time to seek alternative employment or retraining opportunities, and in California, they must be filed with the California Employment Development Department.

In June, several new businesses advised of upcoming layoffs in California.

Below is a list of companies laying off in California soon:

  • Planet Labs PBC. 98 job cuts by 8/26.
  • Corteva. 2 job cuts by 11/8.
  • AT&T – 5005. 37 job cuts by 8/24.
  • AT&T – 5001. 19 job cuts by 8/24.
  • DexCom. 535 job cuts by 7/26.
  • Lacework, Inc. 180 job cuts by 8/23.
  • Ginkgo Bioworks, Inc. – Suite 401. 10 job cuts by 8/23.
  • J. R. Simplot Company. 108 job cuts by 8/30.
  • Trego/Dugan Aviation of Grand Island. 10 job cuts by 8/26.
  • Moxion Power Co. 101 job cuts by 8/20.
  • Hilton Oakland Airport Hotel. 152 job cuts on 6/28.
  • Aveanna Healtcare, LLC. 4 job cuts by 8/31.
  • ARTHA Wellness Weho, LLC. 40 job cuts on 6/30.
  • WestRock. 77 job cuts by 8/18.
  • Charter Communications. 430 job cuts by 8/15.
  • UPS. 153 job cuts by 8/12.
  • Del Monte Capitol Meat Company, LLC dba Allen Brothers West Coast. 68 job cuts by 8/12.
  • Zones, LLC. 3 job cuts by 8/11.
  • SINO Television, Inc. 6 job cuts by 8/11.
  • Ryder. 10 job cuts by 8/9.
  • Coach USA. 59 job cuts by 9/3.
  • Beacon Logistics. 91 job cuts by 8/10.
  • Agilent Technologies. 185 job cuts by 8/9.
  • Amazon. 54 job cuts by 8/7.
  • Cargill Meat Solutions Corporation. 20 job cuts by 8/4.
  • Commerce Distribution Company, LLC. 146 job cuts by 8/7.
  • Cargill Meat Solutions Corporation. 158 job cuts by 8/4.
  • North American Specialties Laminations LLC. 10 job cuts by 8/4.
  • Hybrid Promotions, LLC dba Hybrid Apparel. 6 job cuts by 8/4.

Do the layoffs in California raise any concerns for you? Do you know anyone who has been affected?

Leave your thoughts in the comment section.

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

Other Economy News Today

Market News Today - Massive Companies Are Now Laying Off Thousands in California.
Market News Today – Massive Companies Are Now Laying Off Thousands in 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.”

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

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Market News Today - Massive Companies Are Now Laying Off Thousands in California.
Market News Today – Massive Companies Are Now Laying Off Thousands in California.

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