Thousands of people are now being affected by massive layoffs in Illinois according to the latest economic data.
“Illinois experienced a wave of job cuts in August, with a wide range of businesses announcing layoffs across the month,” says Ash Jurberg.
“Yellow Corp laid off almost 3000 workers, while CVS Health laid off hundreds across several locations.
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.“
Layoffs in California and layoffs in Illinois both surpassed layoffs in Florida significantly for the month of August.
These three states had the most layoffs in Yellow Corp., an American transportation holding company headquartered in Nashville, Tennessee.
Below are the businesses that filed a WARN act in August with the Illinois Department of Commerce and Economic Opportunity advising of upcoming layoffs.
August Layoffs in Illinois 2023
- Menasha Packaging Company. 51 jobs were cut in Alsip.
- Menasha Packaging Company. 66 jobs were cut in Edwardsville.
- Menasha Packaging Company. 26 jobs were cut in Minooka.
- Berry Global. 82 jobs were cut in Woodstock
- Providence Life Services. 82 jobs were cut in Crete
- CJ Logistics America. 79 jobs were cut in Channahon
- AGB Investigative Services. 311 jobs were cut in Chicago
- Solo Cup Operating Corp. 138 jobs were cut in Urbana
- Clearwave Fiber. 38 jobs were cut in Eldorado
- CVS Health. 161 jobs were cut in Buffalo Grove
- CVS Health. 68 jobs were cut in Chicago
- CVS Health. 17 jobs were cut in Downers Grove
- CVS Health. 65 jobs were cut in Northbrook.
- ASM Global. 192 jobs were cut in Chicago
- Savor, Inc. 951 jobs were cut in Chicago
- Radial, Inc. 42 jobs were cut in Romeoville
- Federal Express Corp. 32 jobs were cut in Marion
- Yellow Corporation. 2900 jobs were cut across Illinois
Despite rising layoffs in Illinois and in other states, banks reiterate that the probabilities of a recession have come down significantly.
Most Americans would differ.
Are we headed towards a recession? Do you know anyone who’s lost their job? Leave your thoughts in the comment section down below.
Also Read: A US Bank Has Now Left Customers With No Money
The Latest in Banking
A bank giant was refusing to reimburse a customer’s stolen money, that is until media stepped in to ask questions.
Cheryl Friedman of Norton, Massachusetts says she received a call from a scammer claiming to be an employee at PayPal, leading to the disappearance of thousands of dollars from her Bank of America account, according to CBS Boston.
“Just before the criminal called her, Friedman says she was helping a friend with a complicated refund on PayPal, leading her to believe the call was legitimate,” reports DH.
“So I said ok, thinking this is coming legitimately from somebody on PayPal and through the app.”
Friedman then clicked a link sent to her by the voice over the phone in order to supposedly verify her account.
That’s when money started to leave her bank account.
“They got $3,500. I think, one, I think it’s cr*zy, my initial reaction was I can’t even believe this could happen… And I don’t understand how someone can access your phone like that.”
The Massachusetts woman reported the fraud both to the police and to Bank of America, but her claim was denied for months.
Similarly, many Green Dot Bank customers have also been defrauded, though these customers have been experiencing frozen accounts between weeks to months.
Then, CBS Boston says it stepped in and got Friedman’s stolen money back. Once CBS began questioning BofA about the theft, the bank said it had received new information from Friedman and refunded the money.
Friedman says BofA should have additional guard rails to protect against potentially suspicious moves of cash.
“I feel foolish but I don’t want anyone else to get sucked into it. I feel also, just unfortunately, angry at my bank for not flagging it and not having better fraud protection.”
Also Read: Here Are The Bank Branches JPMorgan Chase Is Now Closing
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.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- 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 ✨
About The Author
Is this to make way for jobs for illegals?
Beats me 🤷♂️
Pritzker you idiot, Yellow Freight laid off 30,000 not 3,000..my husband being one of them.
Leave your thoughts below.