Mass layoffs are swirling around the nation like a turd in a clogged toilet. 🚽💩 Sorry not sorry for that visual! They're stinking up the country and Ohio isn't immune to the stench. 🫢
According to the Worker Adjustment and Retraining Notification Act (WARN), companies are required to make news of mass layoffs available to the public. 📢 We did some digging and pulled out some of the biggest recent cuts in the Buckeye State.
Here’s Five Fast Facts on how layoffs are impacting Ohio :
- 👰🏼♀️ Down the Aisle - David's Bridal recently filed bankruptcy and the bridal retail giant is now closing several locations sooner than they originally planned. The closures translate to 1,639 lost jobs in Ohio through June.
- 🛍️ Retail Rapture - David's Bridal isn't the only retailer in hot water. Researchers predict that over 50,000 retail locations will close by 2028. Bankruptcies have been filed by big names like Bed Bath & Beyond, Party City, and Tuesday Morning this year, impacting Ohio and the rest of the nation. Walmart and Target are also closing locations, resulting in more mass layoffs nationwide.
- 🚨 Sound the Sirens - In the Ohio healthcare sector, McLaren St. Luke’s Hospital announced the layoff of 743 employees this past May. McLaren WellCare Clinics announced cuts of 118 employees from April through June.
- ✂️ The Cutting Floor - On the manufacturing side, Honeywell Intelligrated LLC will lay off 223 employees between June and December. Food and beverage manufacturer Pactiv Evergreen announced layoffs of 155 workers between June and September.
- 🤨 How Big Are We Talking? - For job cuts to count as "mass layoffs", there needs to be a loss of 500 or more jobs at an employment site OR a loss of 50 to 499 jobs if that number makes up more than 33% of the company’s employee base.
🔥Bottom line: Although layoffs often hit us out of the blue, current laws require employers with 100 or more full-time employees to give at least 60 days' advance notice. Curious about mass layoffs at other Ohio companies? Check out the state's official Current Public Notices of Layoffs and Closures website.
Have you been impacted by any of these mass layoffs?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
