Massive Layoffs in Washington Will Now Affect Thousands

Massive layoffs in Washington will now affect thousands as more businesses continue to announce job cuts this year.

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

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

Flexport, a freight technology company, has stated it will cut 30% of its workforce, equating to over 1000 positions, across the United States.

This will be the second major round of job cuts for Flexport; in January, they let go of 640 employees.

The first of these cuts implemented are in Washington State,” reports Ash Jurberg.

“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.”

Flexport recently filed a notice with the Washington Employment Security Department advising that 165 employees in Bellevue will lose their jobs.

The company had made the #8 spot on Inc.’s 2018 list of the 5,000 fastest-growing private companies and even passed FedEx and USPS on CNBC’s Disruptor 50 list.

However, The Information reports that gross revenue took a massive 70% hit during the first half of 2023 (YoY) due to the falling costs of global freighting.

Flexport previously received $1 billion in funding from SoftBank and was even valued at $8 billion last year, but not even its funding was able to prevent today’s aftermath.

Many other companies have filed a WARN act advising of upcoming layoffs in Washington, one of the biggest being Yellow Corp, which has left several workers in Turmoil, especially in Tennessee.

Upcoming Washington Layoffs 2023

Market News Today - Massive Layoffs in Washington Will Now Affect Thousands.
Market News Today – Massive Layoffs in Washington Will Now Affect Thousands.

The following businesses in Washington are also scheduled for layoffs this year:

  • Food delivery company Yelloh is cutting 58 staff across Tacoma, Spokane, Bellingham, and Richland.
  • Yellow Corp, a trucking business that laid off 437 workers in Washington across sites in Everett, Seattle, Tacoma, E. Wenatchee, Union Gap, Pasco, and Spokane.
  • Paper giant WestRock is closing a mill in Tacoma, leading to 408 job cuts.
  • Crothall Healthcare announced that 174 of its Seattle employees will lose their positions.
  • Cognizant, a US-based software exporter, cut 93 workers in Bothall at the end of September.
  • Centerra, a Security Services contractor, will cut 92 jobs across sites employees in Seattle, Tacoma, Yakima, Spokane, and Richland.

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Also Read: A US Company Now Declares An Unexpected Bankruptcy

Other Economy News

Market News Today - Customers Are Now Unable To Access Money From A Bank

Customers are now reporting being unable to access money from a popular US bank.

Green Dot Bank has been facing fraud allegations from various customers who have been locked out of their account from weeks to months.

Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.

“It been a month and I still haven’t been able to get my money from Walmart green dot. I have ask for a replacement card 4 time haven’t got a card yet my rent is do for last month and this month. I think there trying keep my money,” says Marzell Land.

Green Dot bank has been freezing multiple customer accounts resulting in missed bills or the usage of high interest credit cards to get by.

“Unable to access my funds from Green Dot and they have no answers and send me to a specialist that has me on hold for hours and then they hang up on me,” said Jordan, a Green Dot Bank customer on Friday.

Several retirees in the U.S. have been affected.

The bank, which has 33 million customers, initially said account balances and transactions were impacted by an issue with a payment processing partner.

Now, the bank says its systems are fully up and running – but customers say the problems persist.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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Market News Today - Massive Layoffs in Washington Will Now Affect Thousands.
Market News Today – Massive Layoffs in Washington Will Now Affect Thousands.

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