Massive layoffs in Pennsylvania now grow through the new year according to the latest WARN data advising of upcoming job cuts.
It is 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.
65 employees of Elite Transit Solutions were laid off via Microsoft Teams on Friday.
We were told to email human resources if we had any questions, but our [vice president] of HR left a day before we found out our jobs were being eliminated. Who is left to respond to our emails,” said an employee of the company.
Earlier this week, U.S. Steel also announced layoffs that will impact employees in Pittsburgh.
California remains the #1 state with the most layoffs in the country.
Below is a list of upcoming layoffs in Pennsylvania prior to the holidays and leading into the new year:
- Johnson & Johnson. 57 job cuts by 12/31.
- International Vitamin Corporation. 18 job cuts by 12/01.
- Lightning Source, LLC. 40 employees by 12/29.
- Stitch Fix, Inc. 61 job cuts by 12/01 & 13 job cuts by 2/2/2024.
- The AMES Companies. 57 job cuts by 4/15/2024.
- CVS. 157 job cuts by 12/30.
- Coca Cola. 58 job cuts by 12/31.
- The AMES Company. 182 job cuts by 9/30/2024.
- CSL Behring, LLC. 3 job cuts by 12/15.
Other Economy News Today
A massive bank now closes several branches in Florida as the online banking trend continues to grow, also fueling layoffs in the sector.
This week, Wells Fargo will close the following four branches in Florida.
- 3131 West Hallandale Beach Blvd, Hallandale
- 10191 Cleary Blvd, Plantation
- 113 South Tennessee Ave, Lakeland
- 4901 Tamiami Trail, South Naples
The bank is also closing an additional four branches in California soon.
“In July, Wells Fargo laid off over 100 employees in the consumer and small business banking division in Orlando,” reports Ash Jurberg.
“Banks continue to close across the United States. Between 2017 and 2021, nine percent of all branches — almost 7,000 locations— shut their doors.”
This trend has grown nationwide as traditional banks pivot towards an ever growing digital world.
“Data from S&P Global Market Intelligence shows a total of 1,144 national and regional banks were closed between January 1 and July 31 across 49 states – and firms are pulling out of some areas faster than others,” reports the DailyMail.
“We need to concentrate Wells Fargo real estate investments in fewer locations or reduce space in existing real estate,” Wells Fargo said.
“Branches continue to play an important role in the way we serve our customers, and customers continue to value the experiences they have in our branches,” Saul Van Beurden, the bank’s CEO of consumer, small and business banking, said in a statement.
Wells Fargo has cut its workforce by roughly 40,000 since the third quarter of 2020, and more cuts ae expected, the bank’s chief financial officer, Mike Santomassimo, said last month.
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.
- 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.
Recommended For You ✨
- Florida Now Has Massive Departures As Hundreds of Thousands Leave
- Chase Customers Now Unable to Access Money Through ATMs
- Wells Fargo is Now Freezing Bank Accounts in New Scandal
- A Massive Bank Now Closes Several Branches in Florida
- The US Treasury Direct is Now Freezing Customer Accounts
- A US Company Now Declares An Unexpected Bankruptcy