According to the most recent economic data, Illinois is currently experiencing enormous layoffs that are affecting thousands of individuals.
Nearly 3,000 employees were let go by Yellow Corp, whereas hundreds were let go by CVS Health across various locations.
A company with more than 100 full-time employees is required by law to give 60 days’ notice before terminating the employment of 50 or more persons at a single location.
For the month of August, layoffs in California and Illinois both vastly outnumbered those in Florida.
Yellow Corp., an American transportation holding corporation with its headquarters in Nashville, Tennessee, had the most layoffs in these three states.
Illinois Layoffs in August 2023
Menasha Packaging Company. 51 jobs were cut in Alsip.
Menasha Packaging Company. 66 jobs were cut in Edwardsville.
Menasha Packaging Company. 26 jobs were cut in Minooka.
Berry Global. 82 jobs were cut in Woodstock
Providence Life Services. 82 jobs were cut in Crete
CJ Logistics America. 79 jobs were cut in Channahon
AGB Investigative Services. 311 jobs were cut in Chicago
Solo Cup Operating Corp. 138 jobs were cut in Urbana
Clearwave Fiber. 38 jobs were cut in Eldorado
CVS Health. 161 jobs in Buffalo Grove were lost
CVS Health. 68 jobs were cut in Chicago
CVS Health. 17 jobs in Downers Grove were lost.
CVS Health. 65 jobs were cut in Northbrook.
ASM Global. 192 jobs were cut in Chicago
Savor, Inc. 951 jobs were cut in Chicago
Radial, Inc. 42 jobs were cut in Romeoville
Federal Express Corp. 32 jobs were cut in Marion
Yellow Corporation. 2900 jobs were cut across Illinois
The likelihood of a recession has decreased dramatically, banks affirm despite mounting layoffs in Illinois and other states.
Americans generally disagree.
What’s New in Banking?
Until the media intervened to raise the issue, a large bank was refusing to reimburse a customer for money that had been stolen.
According to CBS Boston, Cheryl Friedman of Norton, Massachusetts, claims she received a call from a con artist posing as a PayPal employee, which caused thousands of dollars to vanish from her Bank of America account.
Friedman claims that right before the thief contacted, she was assisting a friend with a challenging PayPal return, which made her think the call was authentic, according to DH.
Friedman then allegedly verified her account by clicking a link that was provided to her by the voice on the other end of the phone.
Money began to exit her bank account at that point.
Both the authorities and Bank of America were notified by the Massachusetts woman of the fraud, but her claim was rejected for several months.
Similar to how many Green Dot Bank clients have been scammed, some customers have had their accounts frozen for weeks or months.
Then, according to CBS Boston, it intervened and recovered Friedman’s stolen funds. BofA said it got fresh information from Friedman after CBS questioned it about the theft and reimbursed the money.
According to Friedman, BofA needs more safeguards to prevent possible suspect cash movements.