AM I NEXT? NO LOVE AT JOURNAGAN CONTRUCTION

Springfield, Missouri-based Leo Journagan Construction Company, a construction company acting as a prime contractor or subcontractor on projects involving highway construction, site preparation, and the production of construction aggregates, has announced the layoff of 121 employees after a merger with another road construction company, Jefferson City, Missouri-based Capital Holdings Group on February 28, 2021.

Jobs to be eliminated include dump truck drivers, quarry managers, scalemasters, clerical workers, and executives including the chief financial officer, the vice president of paving and the vice president of administration. Layoffs will also include approximately 30 unionized laborers and more than 50 operating engineers in multiple locations.

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?

AM I NEXT? NO LOVE AT TURNER INDUSTRIES GROUP

Baton Rouge, Louisiana-based Turner Industries Group, a general contractor engaged in the maintenance and construction of oil refineries, chemical and petrochemical plants, and pulp and paper mills, announced the layoff of 130 employees at its Paris, Texas fabrication facility following a major reduction in force in Paris, and the closure of its steel pipe fabrication plant in Corpus Christi, Texas in June, 2020.

According to a company statement, “Due to ongoing economic conditions, which include a major reduction of customer orders, Turner Industries Group was forced to lay off more than 130 employees on Friday, Dec. 18, at its Paris fabrication facility."

"The layoff is the result of a declining backlog, the impacts of the global pandemic and the reduction of customer capital spending. In addition, recent news reports of similar lay-offs by our customers further underscores the negative effects of this economy.”

“Turner has always focused on a long-term outlook and firmly believes that market conditions will improve and normal operations will resume,” Bailey said. “Turner continues to aggressively pursue projects and is focused on expanding its market share.”

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?

LAYOFFS: NO LOVE AT KATERRA (06/03/21)

JUNE 3, 2021 — KATERRA IS CLOSING. LAYING OFF THOUSANDS OF EMPLOYEES AND CONTRACTORS WITHOUT SEVERANCE.

It appears the company now regards Houston, Texas as its “North American Headquarters” and lists facilities or offices in a number of U.S. cities.

And according to published reports, “Katerra is expected to let go of thousands of employees and is likely to walk away from dozens of construction projects it had agreed to build.”

According to a company spokesperson, “Following a thorough review of strategic business alternatives, Katerra has determined that it must wind down the majority of its U.S. business operations, effective immediately. Unfortunately, most of our U.S. employees will no longer be working for Katerra in the near future. The company was exploring “suspended operations, asset sales and divestitures, in- or out-of-court restructuring alternatives and other possible actions.”

The company is currently being managed by New York, New York-based Alvarez & Marsal, a turnaround management and performance improvement specialist firm.

DECEMBER 20, 2019 — Original Post

Menlo Park, California-based Katerra, an off-site technology-driven modular building company is continuing its cost-cutting and restructuring activities. The company has announced that it will close its 250,000-square foot prefabrication “housing component and finish” manufacturing facility and lay off 343 employees, 282 employees in Phoenix, Arizona and 61 employees in Scottsdale, Arizona.

The decision is based on business conditions and the opening of their new “component and finish” factory in Tracy, California which the company claims features a more advanced process involving automated equipment and robotics.

The company has also announced that it will build a massive 600,000 square foot manufacturing facility in San Marcos, Texas. It appears that the company will spin off its software project sometime in the future.

According to published reports, the company appears to be reducing its building commitments while touting a major project backlog and bright overseas operations in India and soon to be in Saudi Arabia. Somehow, this feels like a company that is being tweaked by financial engineers and deal makers as the company acquired 21 companies since it was founded and raised nearly $1 billion of Series D venture capital in 2018.

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?