Automation Puts American Workers at Risk of Massive Layoffs A new report by the Investor Responsibility Research Center Institute (IRRCi) finds that American retailers are increasingly moving towards automating their operations, thus putting millions of Americans at risk of facing layoffs in the coming years.
Kellogg’s Laid off Hundreds of Employees in May World-famous breakfast cereal company, Kellogg Company (NYSE:K), has shut down five distribution centers and laid off hundreds of employees this month.
Wells Fargo Shutting Down Branches to Cut Costs One of the biggest American banks, Wells Fargo & Co (NYSE:WFC), has announced that it will be closing 450 of its bank branches across the country by the end of 2018. This is 50 branches more than the 400 branches that management had announced earlier this year.
Cisco Cutting its Job Force…Again! Silicon Valley tech giant Cisco Systems, Inc. (NASDAQ:CSCO) is laying off another 1,100 employees this year, in an effort to streamline its business.
More American Hospitals Go out of Business in 2017 The U.S. healthcare sector has witnessed record-high numbers of bankruptcies in the first half of 2017. American hospitals, in particular, continue to face a risk of insolvency in the midst of political uncertainty.
Rue21 Files for Bankruptcy Protection, Closes 400 Stores Pennsylvania-based teen fashion specialty retailer Rue21 has filed for Chapter 11 bankruptcy after facing deteriorating sales and difficulties in servicing its debt. Following the bankruptcy, the company is closing 400 of its stores, with a warning that more store closings might follow.
21st Century Oncology Seeks Bankruptcy Court Protection America’s largest operator of cancer treatment centers, 21st Century Oncology, has filed for bankruptcy as its debt burden runs out of control. The Florida-based healthcare company sought bankruptcy protection at a New York bankruptcy court in May.
It’s been a few weeks of pain for workers at Hillsboro, Oregon-based SureID, Inc.. A leading provider of identity authentication, background screening, and identity management and enforcement, SureID announced that it laid off at least 60 employees a day after it sent many of its top executives packing. Including this latest round of cutbacks, SureID (more…)