AM I NEXT? NO LOVE -- LAYOFFS AT ICONEX

Duluth, Georgia-based Iconex, a paper converter and manufacturers of transaction receipts and specialized labels, has announced that they will be closing their facility in West Chester, Ohio and laying off 67 employees. It is believed that this is part of a normal restructuring as the company, already a market leader in North America, continues to expand operations in Europe by acquisition. The company recently reported that several factors continue to impact their business including raw materials (leuco dyes, and pulp), transportation costs, and Chinese tariffs on chemicals used for thermal paper production.

According to CEO, Craig Gunckel, “While we are less certain about a potential price increase, we are not seeing any significant cost relief in the first half of 2019 that would drive paper prices lower.”

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE -- LAYOFFS AT VIBRA HOSPITAL

Mechanicsburg, Pennsylvania-based Vibra Healthcare has announced the closure of its Fort Wayne, Indiana long-term acute care Vibra Hospital and the layoff of 120 employees. According to a company spokesperson, the decision was based primarily of declining revenues due to changes in healthcare reimbursement rates. A second Vibra Hospital in Springfield, Illinois will also be closed with an additional 130 layoffs.

A company spokesperson said, “We very much regret that we had to make this decision. It has not been an easy one. The recent changes in healthcare reimbursement have made this hospital extremely difficult to maintain. We will do everything possible to minimize the impact on patients, their families and our dedicated employees." Further noting that Medicare is in the second year of a two-year phase-in of changes in reimbursement for long term acute care hospitals which is resulting in fewer patients and lower reimbursements from Medicare.

It appears that most of the nation’s 430 LTAC (Long-Term Acute Care Facilities) are under significant pressure as Medicare completes its phased-in rules. It appears that at least 30 LTACs have shut down with more misery on the way.

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ADIENT (09/15/24)

SEPTEMBER 15, 2024 — 172 EMPLOYEES IN MISSOURI

The company announced that it is laying off 172 employees at its Riverside, Missouri, manufacturing facility in two phases: 109 employees on November 11, 2024, and the remaining 63 employees on January 6, 2025.

The decision was driven by the end of contract production for a single customer.

JANUARY 4, 2019 Original post…

Plymouth, Michigan-based global automotive seating supplier Adient PLC is closing its automotive seating facility in Charlotte, Michigan and permanently laying off 212 employees.

According to an Adient spokesperson, "The Charlotte plant's core capability is injection molding, which is not part of Adient's core product portfolio. As a result, the decision has been made to close the Charlotte facility."

The company, originally spun off from Milwaukee, Wisconsin-based Johnson Controls in 2016 was acquired by Adient when it purchased the Futuris Group in 2017. There is little doubt that Adient is struggling financially as it canceled its plans to move its Plymouth headquarters to Detroit Michigan due to “financial considerations.”

According to news sources, all of the equipment will be sold as well as any existing contracts.

Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?