Chicago, Illinois-based Morton Salt, North America's leading producer and marketer of food, water conditioning, industrial, agricultural, and road/highway use, has announced a post-aquisition restructuring that will see a 40% reduction-in-force at its Chicago headquarters. The layoffs will impact 120 employees, mostly in administrative support roles.
The company was acquired by Los Angeles, California-based Stone Canyon Industries, the largest salt producer in the world, in April, 2021 for $3.2 billion.
In a statement Morton Salt noted "We can confirm that Morton Salt made the difficult decision to reduce its corporate workforce by 120 employees in our Chicago offices. This was not a decision we took lightly, but after a comprehensive evaluation of our company's long-term financial outlook and our ability to become more competitive in the salt industry, this reduction was necessary to help meet our business goals. Impacted employees will receive severance or separation benefits, continued medical coverage and outplacement services to assist in finding new employment. We thank our employees for their service and wish them the best in their new endeavors."
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. 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?