Layoffs continue in several U.S. industries in 2018. Wal-Mart Stores Inc (NYSE:WMT) laid off dozens of its employees in Georgia and Utah. Uptake Technologies, Inc., a data science startup launched in 2014, laid off staff for the first time. Rodale Inc., a publishing company, has been acquired by Hearst Magazines, resulting in job cuts. Tennessee-based Oak Ridge National Laboratory will cut roughly 100 jobs through its involuntary separation program. And Pfizer Inc. (NYSE:PFE) is set to lay off 300 of its employees, as it is halting its research efforts to discover new drugs for Parkinson’s disease and Alzheimer’s disease.
Wal-Mart Stores Inc has been one of the few massive retail chains that adapted well to the increasing importance of online shopping. While other major companies have faltered in recent years, Wal-Mart stock experienced steady growth in 2017 and the brand was able to avoid major closures and mass layoffs. Despite all that, Wal-Mart layoffs in 2018 have begun, with dozens of jobs being shed in Georgia and Utah. Multiple Worker Adjustment and Retraining Notification (WARN) notices have been released, detailing how many jobs would be lost in the new year and at which locations. For more information, click here.
Uptake Technologies, Inc., a data science startup, is shedding dozens of employees following an announcement that two backers of the company were withdrawing their investments into the company. These Uptake layoffs at 2018’s beginning are the first cuts ever made at the company, which launched in 2014. Co-founder and CEO Brad Keywell said that 51 employees would be shed from the company in a statement. These Chicago startup layoffs come as other companies in the area have also faced difficulty, especially in the fast-paced, high-stakes startup environment. Click here to learn more.
Rodale Inc., a publishing company which houses dozens of magazines under its brand, including Men’s Health, has been acquired by Hearst Magazines. The acquisition is leading to Rodale job cuts in several areas of the company as the two publishing companies become one. The number of Rodale layoffs in 2018 has yet to be publicly announced, however. More information can be found here.
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 Tennessee layoffs should be made aware of their employment status by mid-February. The U.S. research lab layoffs are a part of ORNL’s restructuring plan, though earlier plans used ORNL’s voluntary separation program, as opposed to the involuntary one. Further details are available here.
Pfizer Inc. is halting its research efforts to discover new drugs for Parkinson’s and Alzheimer’s diseases. The pharmaceutical behemoth said the decision will lead to 300 layoffs from its neuroscience discovery and early development programs in Andover and Cambridge, Massachusetts and Groton, Connecticut. The job losses will take place over the next few months. For the full article, click here.