LAYOFFS: NO LOVE AT CASTWELL PRODUCTS

Am I Next? Castwell Products closing.

Skokie, Illinois-based Castwell Products, a fabricator of high-quality precision-tolerance metal castings, has announced that it will be closing its Skokie foundry. Approximately 150 full-time employees will be impacted as the company closes out operations in stages beginning February 2020 with an anticipated final closure during the 2nd quarter of 2020.

According to a company spokesperson, “For the last year Castwell Products, LLC has experienced financial difficulties due to economic changes within our industry. In the past years, we have taken steps necessary to adapt to this new market with our product and process. Unfortunately, this action has not increased profitability. With deep regret, we have begun winding down our business.”

It should be noted that the industry for precision cast parts is undergoing change with new computerized print-on-demand technologies that build complex shapes layer-by-layer.

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 NIO USA

Am I Next? NIO USA Layoffs after INTEL deal.

San Jose, California-based NIO USA, the U.S. headquarters of the Chinese electric automaker NIO, has announced another reduction in force in its San Jose operation. Commencing in February, 2020 NIO will eliminate another 141 positions in San Jose campus, including management, software engineers, mechanical design engineers, and technical support personnel. This is the companies third round of professional employee reductions as NIO continues to bleed cash.

Many believe that the decision to layoff professional staff was driven by a recent deal with Intel

According to a company spokesperson, “NIO has folded the vehicle engineering and electric powertrain divisions that it operated in the San Jose office, but the bulk of the layoffs were made to the startup’s autonomous driving team. Those cuts are related to a recently announced partnership with Intel’s autonomous driving arm Mobileye, which resulted in redundancy and duplications of effort associated with our path toward a Level 4 autonomous driving electric vehicle 

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?