New layoffs in Georgia now surge prior to the holidays as more businesses announces 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.
Two businesses have recently filed notices with the Georgia Department of Labor this month.
- Standard Delivery has advised that they are closing a facility in Atlanta, Georgia, resulting in 90 employees losing their jobs by January 1, 2024.
- FAB Precision Sheetmetal, Inc. is also laying off 50 staff in Fairburn on December 31st.
However, there are other businesses who have advised of upcoming layoffs in Georgia very soon.
The businesses listed below either recently laid of employees in Georgia or are scheduled to cut jobs by next month:
- Saddle Creek Logistics Services. 225 job cuts on 11/06.
- Excalibur Homes LLC. 120 job cuts by 12/15.
- Hood Industries, Inc. 105 job cuts on 11/10.
- GXO LOGISTICS SUPPLY CHAIN, INC. 85 job cuts by 12/30.
- Summit Hill Foods, Inc. 80 job cuts by 12/31.
- Thriveworks. 78 job cuts by 11/30.
- All FAB Precision Sheetmetal, Inc. 50 job cuts by 12/31.
So far in 2023, Georgia has had approximately 7,642 employee layoffs across 52 businesses.
California remains the #1 state with the most layoffs in the country.
Other Economy News Today
Two massive retailers are now making a major comeback after filing for bankruptcy and going through the liquidation process.
BuyBuy Baby got dragged into Chapter 7 bankruptcy liquidation by its parent, Bed Bath & Beyond.
But unlike the main brand its assets were not acquired by the former Overstock.com.
Instead, the baby brand was purchased by one of its vendors, Dream on Me.
“Dream on Me, which recently bought BuyBuy Baby’s brand and digital assets for $15.5 million, was the successful bidder for 11 store leases at a bankruptcy auction for about $1.17 million, court records filed last week show,” Retail Dive reported.
The BuyBuy Baby e-commerce site and stores have been liquidated and closed due to bankruptcy.
But BuyBuy Baby is now under new ownership and is working on relaunching an elevated online and in-store experience soon,” the company said.
“With its website having already started selling, the new owner will reopen 11 brick-and-mortar stores on Nov. 18,” reports TheStreet.
Dream on Me has not said whether it plans to increase the number of physical BuyBuy Baby stores going forward.
Circuit City is another bankrupt company that had gone through liquidation and is now making a comeback.
“‘Powered by Circuit City’ brings a store-in-store concept to our partners, both online and in-store. Our first pilot recently launched with JCPenney.
We are powering their online sales for consumer electronics and have in-store placements in 288 select locations,” the company said in an email to TheStreet.
The new Circuit City plans to add new partners in 2024 and expand its digital and brick-and-mortar operations, says TheStreet.
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