AM I NEXT? NO LOVE AT STARTEK

MAY 23, 2022 — 472 LAYOFFS IN FARMINGTON, MISSOURI

Startek plans to lay off 472 employees, mostly customer service representatives, at the company’s call center in Farmington, Missouri.

The decision was driven by Spectrum/Charter Communications’ early termination of a major contract that was to run through June 2023.

Layoffs are ongoing through mid-August 2022.

MARCH 11, 2020 — STARTEK TO LAY OFF 371 EMPLOYEES IN GRAND JUNCTION, COLORADO

A company spokesperson announced that the company “must reduce operations at its Grand Junction, Colorado, location" by May 31, 2020.”

The company will lay off 371 employees beginning in May 2020, with closure expected in June 2020, including account support and customer care representatives, human resources positions, trainers, and supplemental staff.

begin layoffs at the end of May and officially close sometime in June

AUGUST 29, 2018 — Original Post…

Greenwood Village, Colorado-based StarTek, a business process outsourcing company, is closing its customer contact call center in Greeley, Colorado, and laying off 186 employees.

The company which has recently merged with Singapore-based Capital Square Partners is concentrating on servicing Amazon and expanding its presence in Asia. It is unlikely that this global enterprise will remain headquartered in Colorado. 

According to Lance Rosenzweig, President and Global CEO, writing in StarTek’s second-quarter SEC filing, “The combination of STARTEK and [Capital Square Partners-owned]Aegis has created a truly global platform with more than 50,000 employees operating in 13 countries and servicing six continents.” 

“The timing of this combination was also important given the challenges to Startek’s business over the last year. In the second quarter, the company continued to work through lower volumes and lost programs from its top wireless clients, which impacted both revenue and profitability. The wireless industry continues to face disruption, which has resulted in a rapidly evolving environment for service providers. These soft volumes were partially offset by strong growth from cable/media and retail clients, as well as the early benefit of ramping one of the large, strategic client wins announced earlier in the year. Going forward, we expect our combined business to be much less volatile, as no one client will represent more than 10% of revenue.”

“We still have plenty of work ahead to replace the lost wireless programs and to integrate talent, experience, products, and services across the combined organization. It will take several quarters to realize the benefits of our new global scale and footprint. Nevertheless, I strongly believe that our combined resources will enable world-class customer support for clients and produce operational synergies throughout the organization, which will drive growth and enhance profitability down the road. The opportunities ahead for Startek are just beginning, and I look forward to leading the team and all stakeholders into this next chapter of growth.”

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 ORCHARD SUPPLY HARDWARE (OSH)

As part of a major restructuring effort, the home improvement retailer, Mooresville, North Carolina-based Lowe’s, will be closing all 99 Orchard Supply Hardware stores in California, Oregon, and Florida and laying off approximately 4,000 employees. 

According to Lowe’s President and CEO, Marvin R. Ellison...

“We are committed to driving even stronger performance in the future by sharpening our focus on retail fundamentals and by limiting any projects and initiatives that take us away from our core mission of being a great omnichannel home improvement retailer. I would like to thank our associates for their hard work and commitment to the company. While it was a necessary business decision to exit Orchard Supply Hardware, decisions that impact our people are never easy. We will be providing outplacement services for impacted associates, and they will be given priority status if they choose to apply for other Lowe's positions." 

"In addition to the decision to exit Orchard Supply Hardware, we are developing plans to aggressively rationalize store inventory, reducing lower-performing inventory while investing in increased depth of high-velocity items. Exiting Orchard Supply Hardware and rationalizing inventory are the driving force behind the changes to Lowe's Business Outlook. Our strategic reassessment is ongoing as we evaluate the productivity of our real estate portfolio and non-retail business investments.  We will update you on the changes to our strategy at the upcoming analyst and investor conference in December [2018]."

Ironically, the closure comes five years after Lowe’s acquired San Jose, California-based Orchard Supply Hardware out of bankruptcy from Sear’s Holdings, the slow-moving disaster presided over by Eddie Lampert. Sears acquired the chain in 1996 and in an attempt at financial engineering to bolster the faltering Sears operation, spun off OSH as a separate business in 2012 – which then crashed and burned into bankruptcy in June 2013 when it was crushed by hundreds of millions of acquisition debt.

Are you wondering, Am I Next?

AM I NEXT? NO LOVE AT BALL CORPORATION & ANCHOR GLASS

Broomfield, Colorado-based Ball Corporation, originally known for its production of home-canning jars,  has announced that it would be laying off 85 employees at Longview, Texas facility.

In an August 2017 announcement, the company noted that they will be ceasing production at its facilities in Longview, Texas, Birmingham, Alabama (91 employees), and Chatsworth, California (118 employees). 

The Ball Corporation is undergoing a restructuring and other domestic and foreign plants are being closed. The company continues to expand its beverage and food container business while diversifying into other areas such as aerospace systems and aviation electronics.

Collateral Damage?

Tampa, Florida-based Anchor Glass Container Corporation, a subsidiary of Amsterdam-based BA Glass B.V., has announced that it will be shutting down one of its two glass furnaces and laying off 150 employees at its Warner Robbins, Georgia facility to compensate for a decline in sales following a reduction of orders from a major customer. The future of the plant is uncertain, and the company recently announced the closing of its Zanesville, Ohio facility which produces glass molds for their other production plants which support iconic brands such as Snapple, Pabst, Dr. Pepper, Captain Morgan and Ball jars. An additional 70 workers at the Zanesville facility will be laid off.

Are you wondering, Am I Next?