Significant layoffs in Ohio now continue to surge as more businesses file WARN notices advising of upcoming job cuts in the state.
It’s 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 must be filed with the Ohio Department of Job and Family Services.
The latest company to advise of upcoming layoffs in Ohio is Inservco.
Inservco has advised that a total of 62 employees will lose their jobs in La Grange.
Inservco provides services to insurance companies, regulators and trade organizations who choose to outsource services to capable and reputable service providers.
“All employees currently employed at the LaGrange Facility will be terminated as a result of this closure and this closure is permanent,” the company reported in its filing.
“Please be advised that all employees at the LaGrange facility arenon-union andno bumping rightsareassociated with this termination.
There are currently 62employees. Out of the 62, 46employees will be terminated on October 1, 2024.
5 will be asked to stay until October 31, 2024, and 10 will be asked to stay until December 31 to assist with closing down of operations.
1 employee will be offered a global role and be reclassified to a corporate function.
All affected employees have been provided with notices in accordance with the WARN Act.
However, Inservco isn’t the only company laying off in Ohio this year.
Below is a list of other businesses cutting jobs in Ohio:
- Nordic Consulting Group is laying off 61 employees in Columbus on August 31.
- Post Consumer Brands is closing a facility “that will result in employee separations”
- Aramark Facility Services also filed a layoff notice advising that 104 employees in Cleveland will be laid off due to the loss of a contract.
- Amsive LLC advised the Ohio Department of Job and Family Services of job cuts to take place in May.
- Global food giant Nestle announced layoffs. In total, 254 staff members at Nestlé USA’s Solon campus will lose their jobs in the coming months.
- Brightview Landscapes also filed a notice advising that 86 staff in New Albany were laid off on May 1.
- Sid Tool Company is closing a warehouse in Columbus, resulting in 130 employees losing their jobs.
- Dollar General laid off 265 staff across several Ohio locations.
- Oak View Group advised they were laying off 108 staff in Ohio.
- Bon Appetit announced that 222 employees would be laid off due to losing a contract.
- EVO Transportation laid off 82 staff at a location in Columbus in June.
- Arlington Contact Lens Services will be laying off 151 staff in Columbus.
- Optum is closing a facility in Toledo, which will result in 129 people losing their jobs.
- Health Help let go of 22 staff in Ohio on June 28.
- Barclays advised they would be closing a call center in Cincinnati, leading to 252 staff losing their jobs.
- IAC Wauseon filed a notice with the Ohio Department of Job and Family Services advising that it will lay off 175 employees over the coming months.
- Xeilia Pharmaceuticals filed a notice with the Ohio Department of Job and Family Services advising that it was laying off 214 staff in Bedford.
- Bath & Body Works Logistics Services laid off 85 Columbus staff on June 22.
- Associated Materials laid off 184 staff at a facility in Cuyahoga Falls on May 20.
- Bath & Body Works Logistics Services eliminated 75 jobs in Columbus.
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Also Read: Retirees Will Now Receive More Money For Social Security
Other Economy News Today
Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.
First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.
Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.
That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.
The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.
US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.
Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.
Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.
“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”
“Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.
The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.
While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”
Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”
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Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia
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