Gaurav Sharma

Hobbico Bankruptcy: Declining Sales Led to Filing of Chapter 11, Over 300 Job Cuts Could Follow at Champaign, IL

Hobbico Bankruptcy

Hobby products manufacturer Hobbico, Inc. has gone through the process of filing for Chapter 11 bankruptcy protection. Located in Champaign, Illinois, layoffs could follow as a result of Hobbico’s Chapter 11 protection, leaving 332 employees. Hobbico’s bankruptcy can be attributed to several factors, including heavy debt and, perhaps most importantly, Hobbico’s sales decline over 2017. The (more…)

ORNL Layoffs in Oak Ridge, TN: 100 Employees to Face Job Cuts Through Involuntary Separation Program

ORNL Layoffs

Tennessee-based Oak Ridge National Laboratory (ORNL) is going through the process of adding to the total U.S. research lab layoffs, as the science and technology national laboratory, by cutting roughly 100 jobs through ORNL’s involuntary separation program. This round of ORNL layoffs will be narrowed down in the comparing weeks and employees affected by the (more…)

Operating Loss per Physician Grows to 17.5% of Net Revenue

Operating Loss per Physician Grows

Physicians in the United States are continuing to see negative operating income because of their increased operating costs. This has resulted in a net revenue loss of 17.5% per physician in 2017, compared to 10% in 2016. This information was reported in the American Medical Group Association’s (AMGA’s) 2017 Medical Group Operations and Finance Survey. (more…)

Danny Meyer’s GreenRiver Restaurant Closing: Trend of Michelin-Starred Restaurant Closures in Chicago Continues

GreenRiver restaurant closing

GreenRiver Restaurant Closing The GreenRiver restaurant closing is both the latest Michelin-starred restaurant closing and the most recent Chicago restaurant to shut down. Owner and restaurateur Danny Meyer’s restaurant closure will occur on January 24, with the announcement having been made abruptly through its Facebook page. There were no details regarding the number employees losing (more…)

Year Has Bad Start for Berry Farms as Layoffs Hit

Privately owned Dole Food Company, Inc. has just recently laid off 400 employees from its workforce. This is a result of high labor and other business costs related to berry picking. The entire sector is seeing the high cost of operations impacting their financial statements in a negative manner. Why Are Wages Going Higher for (more…)

Vencore Layoffs: “Space Coast” Tech Firm to Cut More Jobs

Vencore Layoffs

Vencore Layoffs Continue Into the New Year Defense contractor Vencore Service and Solutions, Inc. is planning on handing out 198 layoff notices at the end of February. This is the sixth such announcement of Vencore layoffs from the company, amounting to more than 600 total jobs. The layoffs are the result of losing a $1.9 (more…)

Pernix Therapeutics Layoffs: Pharma to Make 41 Job Cuts, Shift Focus from Treximet to Zohydro

Pernix Therapeutics Layoffs

Pernix Therapeutics Layoffs In 2016, Pernix Therapeutics Holdings Inc (NASDAQ:PTX) saw a reduction of 23% of its workforce. Fast forward to 2018, the news once again is very similar, with 22% of employees walking out of the door due to layoffs in the future. Pernix operates in the specialty pharmaceutical sector and focuses on identifying, developing, and commercializing (more…)