Massive Layoffs in Florida Deepen According to New Data

Massive layoffs in Florida deepen according to new data from WARN with the Florida Department of Economic Opportunity.

“Florida was hit by a wave of job cuts in September, with a wide range of businesses announcing layoffs across the month.

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,” reports Ash Jurberg.

Thousands suffered from job losses in August as well as more businesses announced layoffs throughout the entire month.

Popular used car dealership Off Lease Only filed for bankruptcy and closed all its locations in Florida.

The chain had five locations across Florida, and 466 people have lost their jobs due to the closures.

The company laid off more than 100 people in Texas.

Binance.US, one of the leading cryptocurrency exchanges in the United States, had Brian Shroder, president and CEO of Binance US, resign from the company amid regulatory scrutiny.

The Florida-based business is laying off over 100 employees, marking its second round of job cuts this year. In July, it laid off over 1,000 staff.

A Georgia-Pacific mill operating in Foley also announced it will close the facility in November, resulting in 525 staff losing their jobs.

Other businesses that filed a WARN act with the Florida Department of Economic Opportunity in September included:

  • Alutiq is laying off 62 staff in Tyndall
  • Wells Fargo laying off staff in Orlando
  • Enhanced Resource Centers laying off 164 staff in Jacksonville
  • Thriveworks is laying off staff in Casselberry, Satellite Beach, Oakland Park, and Land O Lakes
  • Divvy Homes is laying off staff in Fort Lauderdale, Sun City Center, Wesley Chapel, and Ormond Beach
  • SP Plus is laying off 99 staff in Fort Myers

Also Read: Michigan Now Becomes The Next State to Experience Massive Layoffs

Bank News Today

Market News Today - Massive Layoffs in Florida Deepen According to New Data.
Market News Today – Massive Layoffs in Florida Deepen According to New Data.

Chase has now closed the most branches with more scheduled to shutter by the end of the year.

Thousands of banks have shut down in the US last year, but one has stood apart from the pack with the most closures, says The-Sun.

“Banks are closing branches faster than they’re opening new ones.

U.S. banks closed over 3,000 branches last year while opening just 1,000.

JPMorgan Chase led in branch closures last year, shuttering 144 branches, while opening 133.

The trend will likely continue as banks face staunch competition for deposits and younger customers from online banks, fintech firms and Big Tech,” reports Kiplinger.

Between 2017 and 2021, more than 7,000 branches were closed in the U.S., which represents 9% of all locations.

One-third of these closures have been in areas with large minority populations.

“The initial wave of closures was sparked by mergers and acquisitions in the wake of the 2008 financial crisis.

More recently, changing consumer preferences and improved banking tech are the reasons given for ditching brick-and-mortar locations.

It shows that big-bank investment in tech is paying off, as new apps and websites with an expanding array of services have lured more customers.”

Although Chase is leading bank closures, the bank has stated that it plans to open new branches as well.

A spokesperson for the company told The U.S. Sun that the bank has made “significant investments in new branches, adding more than 650 over the last five years, including delivering on our commitment to build 400 branches in 25 new states.”

Below is a list of bank branches Chase will be closing this year.

Also Read: More US Banks Are Now Freezing and Closing Accounts

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Market News Today - Massive Layoffs in Florida Deepen According to New Data.
Market News Today – Massive Layoffs in Florida Deepen According to New Data.

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4 Comments

  1. Susan

    I’m not sure why this article has a pic of the Governor on it, it’s not his fault this whole country is messed up. Out present moron of a POTUS is ruining the US on a daily basis. This story is biased.

    • Frank Nez

      This is not an opinionated article, just data.

  2. Frank Nez

    Leave your thoughts below.

    • Bob

      Either these companies are woke or the Governor’s plans to make Florida great again are failing as expected.

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