Latest news with #WorkerAdjustmentandRetrainingNotificationAct
Yahoo
4 days ago
- Business
- Yahoo
Geodis announces plans to close one Wilson County facility with 40 workers affected
Geodis Logistics plans to close its facility at 549A Aldi Boulevard in Wilson County with 40 workers affected, according to a notice filed with the state. The closure is expected to be effective on July 31, according to the Worker Adjustment and Retraining Notification Act (WARN) notice filed with the Tennessee Department of Labor and Workforce Development. Geodis is a worldwide transport and logistics company with multiple locations in Wilson County. One Geodis operation is at Speedway Industrial Park. The Joint Economic & Community Development Board of Wilson County will coordinate through its Wilson Works countywide workforce development program to support rapid response efforts for affected workers led by the Northern Middle Tennessee Workforce Development Board. Wilson County's unemployment rate was 2.4% in April "and with more jobs currently available than there are workers to fill them, we are optimistic that these folks will rebound and find new employment quickly,' Joint Economic & Community Development Board of Wilson County Executive Director Corey Johns said. Reach Andy Humbles at ahumbles@ This article originally appeared on Nashville Tennessean: Geodis announces Wilson County facility on Aldi Boulevard to close
Yahoo
18-06-2025
- Business
- Yahoo
Kohl's to close Ohio fulfillment center, lay off 768
This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. Kohl's will permanently shutter an e-commerce fulfillment center in Monroe, Ohio, effective Oct. 31, the company announced earlier this month. The discount retailer will lay off 768 employees as part of the closure, per a Worker Adjustment and Retraining Notification Act notice filed June 5. Most workers' last day of employment will be Sept. 12. The company said it is closing the Ohio facility due to improved efficiency at newer centers, which has allowed it to expand customer fulfillment from stores. Kohl's is reducing the size of its supply chain footprint amid a turbulent time for the discount retailer. The Ohio e-commerce fulfillment center was one of 14 such facilities in the retailer's network and had been in operation since 2001, per a company press release. 'This was a difficult decision, and one we did not take lightly,' said interim CEO Michael J. Bender. 'Ultimately, it's a necessary step to strengthen our operational discipline, drive greater cost efficiency, and ensure the long-term health of our business — for our customers, our associates, and the future of our company.' The company previously announced plans to also close a California e-commerce fulfillment center after its lease expired in May. The facility was first opened in 2010. Meanwhile, Kohl's is contending with the crunch of heightened tariffs on imported goods, which have hit discount retailers harder than expected. In response, Kohl's has adjusted its inventory strategy to focus on high-demand products while focusing on sourcing diversification and supplier collaboration. Beyond a rebalancing of its supply chain, Kohl's is also undergoing major changes elsewhere within the company. Bender took over as interim chief executive in May after predecessor Ashley Buchanan was fired just a few months into his tenure due to conflicts of interest. Buchanan's departure followed shakeups at the executive level as well as a 10% reduction of the company's corporate workforce in January. However, the multi-pronged turbulence does not mean the company is abandoning supply chain investments altogether. On a May 29 earnings call, CFO Jill Timm said Kohl's plans to spend between $400 million to $425 million in capital expenditures this year, with some of those funds allocated toward an expansion of its e-commerce fulfillment center in Indiana. This story was first published in our Operations Weekly newsletter. Sign up here. Recommended Reading Kohl's shifts inventory strategy to curb tariff impact Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-06-2025
- Automotive
- Yahoo
Popular tire company makes harsh cost-cutting decision amid declines
Popular tire company makes harsh cost-cutting decision amid declines originally appeared on TheStreet. When thinking about Formula 1, the world's most prestigious motor racing competition, only a few tire brands come to mind. This is because the motorsport uses a single tire supplier to ensure an even playing field for all teams, and the selected manufacturer must be exceptionally reliable and capable of meeting the sport's demanding performance standards. This popular tire company rose to stardom as Formula 1's tire supplier from 1997 to 2010, providing tires for top teams like Ferrari for many years. 💵💰 💵💰 Ultimately, the company chose to end its long-standing partnership with Formula 1 in 2010 to refocus its resources and prioritize its business, as the returns on investment no longer met even the world's largest tire and rubber company is not immune to today's economic challenges or devastating shutdowns to make ends meet. The multinational tire and rubber company Bridgestone Corp. has faced various business challenges over the last few months, including a decline in tire demand in the North American market, partly due to increased imports of low-priced tires. These bumps in the road have only grown due to U.S. tariff implementations and the uncertain economy. To mitigate the effects of these challenges, the company developed a Mid-Term Business Plan that would be enacted from 2024 to 2026. This multi-year strategy consisted of significant cost reductions and various restructurings to strengthen the company in the first quarter of fiscal 2025, once positive numbers have now flipped, total revenues declined by 1% compared to last year, and the Americas went down 3%. The company predicts more negative revenues for the rest of 2025, predicting a 2% decline compared to the year prior. Bridgestone Americas Tire Operations, the U.S. subsidiary of Bridgestone Corp. () , filed a WARN notice with the Tennessee Department of Labor and Workforce Development (TDLWD) on May 30 to inform the state that it will be permanently closing its Bridgestone facility in La Vergne, Tenn., on July 31, impacting 658 hourly and staffed workers. The Worker Adjustment and Retraining Notification Act, or WARN, requires companies to give employees 60 days' notice before planned closures or mass layoffs. This filing comes months after the company made the initial announcement of the closure in January, but no filing had yet been made. More Retail News:"This decision is part of the company's strategic initiatives to optimize its business footprint, strengthen its competitiveness and enhance the quality of the company's U.S. operations," stated the company in the initial announcement. The closure reduces costs in strategic areas, allowing Bridgestone Americas to operate more efficiently and focus on value creation, which is the second part of its Mid-Term Business Plan that will take place from 2024 to 2025. Since the day the WARN notice was filed, Bridgestone Corp.'s stock has declined by over 6% as of June 4. Popular tire company makes harsh cost-cutting decision amid declines first appeared on TheStreet on Jun 5, 2025 This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Bakery Barn to close Pleasant Hills factory, impacting 82 employees
Nutrition bar manufacturer Bakery Barn LLC will be shuttering its Pleasant Hills factory in the summer, leaving 82 employees out of work. The layoffs will begin Aug. 1 at its facility at 111 Terence Dr., Pleasant Hills, according to a Worker Adjustment and Retraining Notification Act (WARN) notice filed May 29 with the Pennsylvania Department of Labor & Industry. 'Changing business needs require us to close this facility,' according to the WARN notice. Bakery Barn didn't immediately respond to a request for comment. Click here to read more from our partners at the Pittsburgh Business Times. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Miami Herald
05-06-2025
- Automotive
- Miami Herald
Popular tire company makes harsh cost-cutting decision amid declines
When thinking about Formula 1, the world's most prestigious motor racing competition, only a few tire brands come to mind. This is because the motorsport uses a single tire supplier to ensure an even playing field for all teams, and the selected manufacturer must be exceptionally reliable and capable of meeting the sport's demanding performance standards. This popular tire company rose to stardom as Formula 1's tire supplier from 1997 to 2010, providing tires for top teams like Ferrari for many years. Don't miss the move: Subscribe to TheStreet's free daily newsletter Ultimately, the company chose to end its long-standing partnership with Formula 1 in 2010 to refocus its resources and prioritize its business, as the returns on investment no longer met expectations. Related: Tesla unveils an unusual innovation to win back customers However, even the world's largest tire and rubber company is not immune to today's economic challenges or devastating shutdowns to make ends meet. Shutterstock The multinational tire and rubber company Bridgestone Corp. has faced various business challenges over the last few months, including a decline in tire demand in the North American market, partly due to increased imports of low-priced tires. These bumps in the road have only grown due to U.S. tariff implementations and the uncertain economy. To mitigate the effects of these challenges, the company developed a Mid-Term Business Plan that would be enacted from 2024 to 2026. This multi-year strategy consisted of significant cost reductions and various restructurings to strengthen the company financially. Related: When you'll see empty retail store shelves due to tariffs However, in the first quarter of fiscal 2025, once positive numbers have now flipped, total revenues declined by 1% compared to last year, and the Americas went down 3%. The company predicts more negative revenues for the rest of 2025, predicting a 2% decline compared to the year prior. Bridgestone Americas Tire Operations, the U.S. subsidiary of Bridgestone Corp. (BRDCY) , filed a WARN notice with the Tennessee Department of Labor and Workforce Development (TDLWD) on May 30 to inform the state that it will be permanently closing its Bridgestone facility in La Vergne, Tenn., on July 31, impacting 658 hourly and staffed workers. The Worker Adjustment and Retraining Notification Act, or WARN, requires companies to give employees 60 days' notice before planned closures or mass layoffs. This filing comes months after the company made the initial announcement of the closure in January, but no filing had yet been made. More Retail News: United Airlines CEO sounds the alarm on cheapest tickets everPopular fast-food burger chain to open first store in new marketPeloton creates new way for consumers to get cheaper equipment "This decision is part of the company's strategic initiatives to optimize its business footprint, strengthen its competitiveness and enhance the quality of the company's U.S. operations," stated the company in the initial announcement. The closure reduces costs in strategic areas, allowing Bridgestone Americas to operate more efficiently and focus on value creation, which is the second part of its Mid-Term Business Plan that will take place from 2024 to 2025. Since the day the WARN notice was filed, Bridgestone Corp.'s stock has declined by over 6% as of June 4. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
