AM I NEXT? NO LOVE AT ALUDYNE

Southfield, Michigan-based Aludyne, a vertically integrated manufacturer of aluminum, magnesium, and iron cast and machined automotive components, has announced the closure of its Columbus, Georgia machining operations.

The closure will impact 193 emloyees with the layoffs scheduled between June 30, 2024 through July 14, 2024.

According to a company statement, “We have notified our employees that the machining plant will be closing at mid-year, and the remaining work will be transferred to available capacity at other Aludyne plants in the U.S. We expect that some employees will have an opportunity to transfer to our Columbus foundry plant which is unaffected by this action.”

AM I NEXT? NO LOVE AT 99 CENTS ONLY STORES (06/07/24)

JUNE 7, 2024 — 220 EMPLOYEES IN TEXAS

The wind-down continues as the company lays off 220 employees in Texas.

99 Cents Only shuttered all 371 stores. However, some locations are expected to reopen as Dollar Trees.

APRIL 8, 2024 — Original post…

City of Commerce, California-based 99 Cents Only Stores, a retailer of distressed, aged, surplus, and other bargain merchandise, has announced the wind-down of its business operations as

According to Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only Stores and Managing Director at New York, NewYork-based Alvarez & Marsal, "This was an extremely difficult decision and is not the outcome we expected or hoped to achieve. Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures, and other macroeconomic headwinds, all of which have greatly hindered the Company's ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades."

The closure will affect over a thousand employees at 371 stores, distribution centers, and the company's headquarters.

"99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue. Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores' assets."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT Sumitomo Pharma America

Marlborough, Massachusetts-based Sumitomo Pharma America, a pharmaceutical company, has announced a general restructuring of its U. S. subsidiary.

The reorganization and right-sizing will impact 400 employees.

According to a company statement...

Sumitomo Pharma Announces Reduction of Workforce and Other Rationalization Measures of the USA Consolidated Subsidiary

Sumitomo Pharma announced that in light of the current severe business environment and to achieve a recovery in the Group's performance, the Company has decided to implement rationalization measures including personnel reduction at its USA consolidated subsidiary, Sumitomo Pharma America, Inc.

1. Reasons for rationalization of personnel reductions, etc.

Sumitomo Pharma hereby announces that, as part of its efforts to improve management and organizational efficiency for future profit structure reform, it has decided to implement a reorganization of SMPA, with the aim of further streamlining its operations in the United States, thereby reducing the workforce at SMPA in accordance with the details described below.

2. Details of rationalization

For the purpose of restructuring to a leaner organization and optimizing the workforce in the North American business, the Company will rationalize the workforce by approximately 400 employees in total in March 2024. In the Sales & Marketing Division, an optimal organizational structure will be implemented for the continued expansion of revenue from the three key products.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?