AM I NEXT? NO LOVE AT ADVANCE AUTO PARTS (11/14/24)

NOVEMBER 14, 2024 — MAJOR LAYOFFS AHEAD

The company has announced plans to close about 523 corporate stores, exit 204 independent locations, and shutter four distribution centers by mid-2025—and lay off an unspecified number of employees due to lower demand for vehicle parts by consumers faced with the complexity of repairing modern vehicles.

From the company’s SEC filing, “On November 13, 2024, the Company’s Board of Directors approved a restructuring and asset optimization plan designed to improve the Company’s profitability and growth potential and streamline its operations. This plan anticipates the closure of approximately 500 stores, approximately 200 independent locations, and four distribution centers by mid-2025, as well as headcount reductions.

NOVEMBER 30, 2023 — Original post…

Raleigh, North Carolina-based Advance Auto Parts, an automotive aftermarket parts provider serving both professionals and do-it-yourself customers, has announced plans to sell two business units, Worldpac's domestic and Canadian businesses, and to undertake an operational realignment and reduction in force.

The reduction will impact 400 headquarters employees.

According to a company statement, “As part of our ongoing strategic and operational review of the business, we have identified opportunities to streamline efforts, improve efficiency, and significantly reduce costs within our organization."

"As a result, we have made the difficult decision to eliminate approximately 400 positions across our organization, including positions based at our Raleigh headquarters, corporate roles based outside of North Carolina, field-based positions located outside of Raleigh, and positions at our office in Hyderabad, India."

"The decision to eliminate even a single role is extremely difficult and we are committed to treating affected individuals with compassion and care by offering transition assistance to those impacted. The actions we are taking will enable us to support a narrowed list of priorities that are focused on the fundamentals of serving our customers and frontline teams. We remain confident that our industry is strong and that the opportunity for Advance to succeed on the road ahead is significant.”

According to the company's recently hired CEO, “Today we are announcing initial actions from our review process that will allow us to capitalize on significant opportunities ahead. Since joining Advance, I have partnered with the board and management team to move with speed in conducting a comprehensive review of the business. We are taking decisive actions to position Advance for long-term success and create meaningful value for our shareholders."

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 MORGAN OLSON (08/01/24)

AUGUST 1, 2024 — 139 EMPLOYEES

The company plans to lay off 139 employees starting September 27, 2024, and finishing by the end of the year.

A company spokesman noted, “At this time, this mass layoff is expected to be permanent, but we hope that with improved business performance, we can engage in rehiring.”

Despite this necessary workforce reduction, the company emphasizes that the Virginia facility, along with all of Morgan Olson’s other North American locations, will continue to operate to satisfy market demand.”

NOVEMBER 15, 2023 — Original post

Sturgis, Michigan-based Morgan Olson, a manufacturer of aluminum walk-in vans, has announced a significant reduction in force at the company's Sturgis location and two additional locations, one in Ringgold, Virginia, and one in Loudon, Tennessee.

The Ringgold layoff will impact 435 employees, and the Loudon layoff will impact 290; both layoffs are scheduled for December 22, 2023.

Some layoffs are expected at the company's headquarters, but no formal announcement has been made.

“Customers have recently communicated to Morgan Olson that new vehicle purchase orders will be delayed due to the current economic conditions and forecasts,” Klein said in a statement. As a result, Morgan Olson will reduce their workforce at all three Morgan Olson locations in Michigan, Tennessee, and Virginia. Ongoing production will continue at all locations as the company works towards expanding its customer base and preparing for market recovery.”

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 MICHELIN NORTH AMERICA

Greenville, South Carolina-based Michelin North America, a multi-national tire manufacturer, has announced that it will cease passenger tire production at its Ardmore, Oklahoma plant by plant by the end of 2025, if not sooner.

Approximately 1,400 employees will be impacted by the closure.

According to a company spokesperson, "Michelin North America has informed employees, customers, community leaders and other public stakeholders that the Company will begin winding down tire production at its Ardmore site, with the goal of completing the process by year-end 2025 or sooner. Rubber-mixing operations at the Ardmore factory are expected to continue.

The wind-down decision impacts approximately 1,400 people associated with tire-manufacturing activities (excluding additional contractors) at the Ardmore site, which has produced passenger tires since 1970. Tire production will gradually shift to Michelin’s other passenger-tire plants in North America.

North America’s passenger-vehicle market is changing rapidly and profoundly. Despite substantial investments over the past five years to improve technical capabilities and competitiveness, Michelin has concluded that the Ardmore factory is not equipped to deliver tires at competitive costs that will meet these evolving market demands in the coming years. Continuing investments to modernize the Ardmore plant would negatively impact other U.S. sites in the network.

Fundamental market conditions driving Michelin’s decision include: the dominance of light trucks and cross-over vehicles in North America, which require ever-larger tire sizes;

dynamic market transition to electric vehicles; and customers’ requirements for continual improvements in rolling resistance and other sustainable materials technologies. Taken together, these factors add substantial complexity to the Company’s portfolio, which in turn requires much greater industrial flexibility.

Precise timing has not been determined for specific phases of the wind-down. Based on the current outlook for market demand, however, operations at the Ardmore plant are expected to continue trending gradually lower until mid-2024, when the first wave of staffing reductions will occur. Additional reductions are expected to occur in phases through 2025 as transition plans are finalized.

Michelin’s rubber-mixing operations at the Ardmore plant supply other factories in North America. After tire-manufacturing activities wind down, these rubber-mixing operations are expected to continue for the foreseeable future.

“The Company has carefully explored every other option before resolving this decision.In the months ahead, we’ll work through every stage of the transition with a deep sense of stewardship for the Ardmore community. Our goal is to provide individual support for each person at the Ardmore site to start a new chapter in the best way possible. This also includes starting conversations with local and state-level leaders to determine the best ways to lend support for this community even after the transition.”

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?