AM I NEXT? NO LOVE -- LAYOFFS AT SECURITY INDUSTRY SPECIALISTS

Again, we see contractual relationships change and employees pay the price. Culver City, California-based Security Industry Specialists, the subject of a union organizing campaign, appears to have lost the contract to provide security at Amazon’s Seattle, Washington-based headquarters and elsewhere that SIS held since 2012. The company plans to lay off approximately 1066 employees, some of whom have been invited to join the union and be employed by the new unionized security vendors, said to be Allied Universal and Securitas. Allied Universal will provide security at Amazon’s headquarters while Securitas, a global security providers, will provide security at other locations.

According to an Amazon spokesperson, a company’s union status was not a factor in vendor selection, but the primary concerns were companies able to scale with Amazon’s growth and increasing number of 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 -- LAYOFFS AT PENSKE LOGISTICS (08/23/24)

AUGUST 23, 2024 — 132 EMPLOYEES

The company announced it will lay off 132 workers in New Baltimore, Michigan.

According to a company spokesperson, "Kroger has informed Penske that Kroger will fully shut down operations at the location as of October 13, 2024, but no later than October 27, 2024. Penske has been honored to provide service at this facility on behalf of Kroger and will work diligently to ensure a smooth shutdown of the facility.”

MARCH 21, 2023 — 152 EMPLOYEES IN KELLER, TEXAS

The company has announced that it will be laying off 152 employees in Keller, Texas, after losing a contract with supermarket chain Kroger.

Kroeger will transition to a new logistics provider on May 20, 2023, at its distribution center.

JANUARY 26, 2022 — 146 LAYOFFS IN FLINT, MICHIGAN

The company has announced that it will be closing its terminal located near Bishop International Airport in Flint, Michigan. The closure will impact 146 employees including 141 drivers, three operations supervisors, an operations manager, and a safety lead. Separations are scheduled for March 26, 2022.

According to a statement filed with the State of Michigan, "Although this was a very difficult decision, given the dynamic customer service needs at this terminal, at a time when continuing to reliably meet those needs has been regularly compromised by challenges largely beyond Penske’s control, sustaining an effective and efficient ongoing logistics operation presents continued operating conditions at this terminal that do not align strategically for Penske,"

FEBRUARY 25, 2020 — PENSKE LOSES FORD MOTOR CONTRACT, LAYS OFF 120 EMPLOYEES IN COLDWATER, MICHIGAN

Penske Logistics has announced that they will be leaving Coldwater, Michigan after losing a Ford Motor Company contract to a competitive bidder. An estimated 120 employees will be laid of at the Coldwater warehouse and distribution facility. The company’s operations will be moved to the company’s facility in Romulus, Michigan.

MAY 30, 2019 —Original post…

Again we see the loss of a contact affecting the staffing of a company’s operations. Reading, Pennsylvania-based Penske Logistics, a national supplier of logistics consulting, supply chain management, warehousing operations, and transport optimization, has announced that it will be closing its truck terminal located in Fort Wayne, Indiana, and laying off 80 drivers at the conclusion of the contract July 20, 2019. A Penske spokesperson noted that the closure and layoffs were in response to a “recent local trucking contract termination.”

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 -- LAYOFFS AT LEGG MASON

Baltimore, Maryland-based Legg Mason, a global asset management and financial advisory firm has announced the layoff of 120 employees in Baltimore, Maryland, New York City, New York, and Stamford, Connecticut as part of a cost containment effort. The layoffs include positions in legal, finance, human resources. product support and fund administration distribution operations. Four senior executives will also depart.

CEO Joseph Sullivan noted, “the reductions reflect a need in an evolving industry to “rethink how we deliver on our mission of investing. Going forward, we will continue to challenge ourselves to be more efficient and effective, through innovation. We will continue to collaborate in new and different ways, and we will continue to allocate resources to those areas that will enable us to differentiate ourselves in the eyes of our clients. Throughout our history, Legg Mason has adapted to confront tough challenges. As part of our strategic restructuring, the steps we take today will position the company to succeed over the long-term--for our clients, our shareholders, our employees and our communities.” YADA, YADA, YADA.

Not so coincidentally, we see the notorious activist investor activist investor Nelson Peltz, the CEO of Trian Fund Management, and Trian’s Chief Investment Officer joining the Board of Directors. Peltz, a legendary corporate raider, is renown for his demands for restructuring of managements, divestiture of under-performing assets, strict cost controls including significant reductions in force, stock buybacks, strategic acquisitions, and increased dividends to investors.

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?