Massive Layoffs in North Carolina Now Mount Prior to Holidays

November 15, 2023

Massive layoffs in North Carolina now mount prior to the holidays according the latest WARN data.

Job cuts in North Carolina are also being registered for 2024.

Yesterday, National Spinning filed a WARN notice with the North Carolina Commerce Department advising that 100 staff will lose their jobs on January 15, 2024.

“This decision was made after careful consideration of various factors, including a downturn in business over the past year due to increased imports of textile yarns and finished goods.

National Spinning understands the impact this decision may have on our loyal employees, their families, and the local community,” said the company in a press release.

The National Spinning plant between Whiteville and Brunswick has been open since 1957 but has lost business as people buy cheaper yarn from places such as Mexico and China.

Many of the employees had worked at the mill for over twenty years.

California remains the #1 state with the most layoffs in the country.

In second place is New York followed by Colorado, Illinois, Texas, Washington, New Jersey, Florida, Michigan, and Georgia.

Below is a list of upcoming layoffs in North Carolina prior to the holidays leading into the new year:

National Spinning. 100 job cuts by 1/15/2024.
Dansons Inc. 49 job cuts by 4/30/2024.
Printpack. 90 job cuts by 12/31.
Yelloh. 19 job cuts by 12/26.
Hood Container. 88 job cuts by 12/19.
AgBiome. 123 job cuts by 12/15.
National Distribution Centers. 217 job cuts by 12/31.
Gildan Yarn’s. 258 job cuts by 12/08.
Smithfield Packaged Meats Corp. 107 job cuts by 12/08.
Coats American. 51 job cuts by 11/30.
First Savings Bank. 5 job cuts by 11/30.
Epic Games. 85 job cuts by 12/01.
Kayser-Roth Corporation. 126 job cuts by 12/22.
Marker 3 Consulting LLC. 1 job cut by 11/21.
Intuitive Surgical, Inc. 72 job cuts by 12/31.

Also Read: A New Wave of Massive Layoffs Now Hit Florida

Other Economy News Today

An essential retailer now announces painful layoffs as it aims to cut costs and “focus on other company priorities”.

Walgreens is cutting 5% of its corporate staff, which will equate to a whopping 267 jobs.

A Walgreen spokesperson says the job cuts are necessary in order to “streamline our operations and focus on our critical priorities.”

“None of these roles are based at our stores,” they said.

“These latest cuts follow a 10% reduction in Walgreens’ corporate workforce in May 2023,” reports RetailTouchPoints.

The essential retailer has faced a few challenges and bumps on the road, including:

Paying a $230 billion settlement in May 2023 with the city of San Francisco over the retailer’s role in the opioid epidemic;
In June 2023 Walgreens announced plans to close 150 U.S. stores and 300 Boots stores in the UK as part of cost-cutting efforts;
Then-CEO Rosalind Brewer stepped down in September, replaced by Tim Wentworth in October; and
WBA agreed in October 2023 to a $192.5 million settlement of a class-action lawsuit brought by shareholders claiming they were misled regarding Walgreens’ failed 2015 merger with Rite Aid.

Despite achieving sales of $139.1 billion, a 4.8% increase compared to the previous year, WBA had a net loss of $3.1 billion, down from net earnings of $4.3 billion during FY 2022.

The decrease was driven by a $5.5 billion after-tax charge for opioid-related claims during the period, reports RTP.

Rite Aid, which operates 2,330 stores across 17 states, requested on November 2nd to increase the number of stores to close to 179.

Customers have reported having issues with both companies transferring their medications to other local retailers.

This is a developing story.

Also Read: A US Company Now Declares An Unexpected Bankruptcy

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.

You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Become a Sponsor for only $1/mo.

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Become a Sponsor Today!