Massive Layoffs Now Hit New York Prior to The Holidays

Massive layoffs now hit New York prior to the holidays as more businesses announce upcoming job cuts.

New York now ranks #2 with the most layoffs in the U.S according to the latest WARN data.

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

After New York is Colorado, followed by IllinoisTexasWashington, New Jersey, FloridaMichigan, and Georgia.

So far in 2023, New York has had approximately 36,057 layoffs across 338 businesses.

Layoffs in New York 2023.
Layoffs in New York 2023.

The following companies have announced of upcoming job cuts in New York before the year ends:

  • Shop-Rite Supermarkets Inc. 567 job cuts by 12/09.
  • Target. 293 job cuts by 12/30.
  • Credit Suisse. 254 job cuts by 12/31.
  • Allied Universal Security Service. 137 job cuts by 12/13.
  • Nordstrom. 51 job cuts by 2/03/2024.
  • Twenty-Three Grand / Jimmy Soho. 129 job cuts by 2/06/2024.

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.

“These notices follow a rise in layoffs in New York in October,” reports Ash Jurberg.

“Last month, twenty-three businesses announced layoffs, a significant rise from September, which saw just ten businesses cut jobs in New York.”

The biggest layoffs in New York came from Yellow Corporation in late July where more than 1,185 positions were lost.

Google had also laid off over 887 employees during the second quarter of the year.

Banks such as Goldman Sachs and Morgan Stanley laid off more than 1,000 employees combined in New York alone this year.

There are currently no advisories of layoffs for the month of November.

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

Other Economy News Today

Market News Today - Massive Layoffs Now Hit New York Prior to The Holidays.
Market News Today – Massive Layoffs Now Hit New York Prior to The Holidays.

A massive retailer now closes several locations in Washington after filing for Chapter 11 bankruptcy last month.

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

“Rite Aid has served customers and communities across our country for more than 60 years, and the important actions we are taking today will enable us to move ahead as a stronger company.

With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives, and accelerating the execution of our turnaround strategy.

In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on – now and into the future,” said Jeffrey Stein, Chief Executive Officer and Chief Restructuring Officer.

Rite was initially closing only 11 Rite Aid stores in Washington, now a total of 17 are closing.

  • Seattle: 9600 15th Avenue SW
  • Lynnwood: 2518 196th Street SW (Bartell Drugs location. Closing November 14)
  • Bellevue: 3620 Factoria Boulevard SE
  • Bellevue: 11919 NE 8th Street
  • Redmond: 7370 170th Avenue NE
  • Graham: 22201 Meridian Avenue E
  • Renton: 601 South Grady Way, Suite P
  • Mill Creek: 3202 132nd Street Southeast (closed on November 12)
  • Burien: 110 SW 148th Street
  • Everett: 10103 Evergreen Way (closed on November 6)
  • Lacey: 8230 Martin Way East
  • Seattle: 1101 Madison St
  • Seattle: 6401 12th Ave NE
  • Kirkland: 312 Central Way
  • Issaquah: 5700 E Lake Sammamish Pkwy SE
  • Seattle: 3018 NE 125th St

“In addition, another location not listed on the filings will be closing. The Rite Aid store in Lake Stevens at 303 91st Ave NE will close on November 19, indicating that more stores may be added to the ever-growing list.”

Also Read: A US Bank is Now Denying Customers Access to Money

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Market News Today - Massive Layoffs Now Hit New York Prior to The Holidays.
Market News Today – Massive Layoffs Now Hit New York Prior to The Holidays.

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