Thousands of new unexpected layoffs now hit Ohio as more businesses warn of upcoming job cuts in the state.
Over two thousand workers are expected to lose their jobs in Ohio before the year ends according to the latest WARN data.
It’s important to understand 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.
The notice must be filed with the Ohio Department of Job and Family Services.
I’ve been reporting company layoffs in the United States for more than a year now and have another fresh report to share.
Which companies are laying off in the great state of Ohio?
Below is a new list of businesses who have filed WARN notices with the state of Ohio, warning of upcoming layoffs this year:
- P. Graham Dunn Inc. 92 job cuts by 10/20.
- Kaleo Inc. 5 job cuts by 11/30.
- Cygnus Home Service dba Yelloh. 92 job cuts by 11/22.
- Libra Industries. 45 job cuts by 12/06.
- Faurecia Exhaust Systems. 60 job cuts by 11/4.
- Swissport. 213 job cuts by 11/4.
- Big Lots Stores, Inc. 379 job cuts by 10/31.
- ZF Active Safety US Inc. 235 job cuts by 11/1.
- Airgas. 87 job cuts by 10/31.
- Steward Health Care System-Hillside Rehabilitation Hospital. 168 job cuts by 10/20.
- Steward Health Care. 765 job cuts by 10/20.
- Steward Health Care System-Northside Regional Medical Center. 9 job cuts by 10/20.
- Steward Health Care System- Hillside Rehabilitation Hospital. 2 job cuts by 10/20.
- Anheuser-Busch. 63 job cuts by 10/15.
- Pitney Bowes Inc. 165 job cuts on 10/8.
- Global Medical Response. 74 job cuts on 10/9.
The total number of layoffs happening in Ohio soon according to the latest WARN data is 2,454.
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You can also search for layoffs in other states below — leave a comment letting me know what other states you would like me to cover.
Also Read: Cisco Now Profits Billions And Makes Thousands of Unexpected Layoffs
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Layoff and Unemployment Report
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%, it as seen 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 earlier this quarter: “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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