New Delhi, October 8: Midwest Transport Inc., a major trucking company, has reportedly announced a shutdown, leading to layoffs. As per reports, the company laid off approximately 222 employees. The company, which operated across various regions, reportedly revealed that it had to cease operations and leaving many workers in the Tampa and Jacksonville areas without jobs.
As per a report of Business Observer, Midwest Transport Inc. has shut down its terminals and laid off 222 employees in Tampa and Jacksonville. An Illinois trucking company has reportedly stated that it had to stop its operations due to pressure from a creditor. PubMatic Layoffs: US-Based Adtech Company Lays Off Employees To Focus on Growth Areas, Plans To Increase Workforce by 15% This Year.
The decision led to the layoffs of 222 employees in Tampa and Jacksonville last month. Midwest Transport Inc. reportedly announced the closure of terminals and the job cuts in a letter sent to state officials. In the letter, they explained that the layoffs followed the shutdown of their Tampa terminal located at 4,710 E. Seventh Ave. and their Jacksonville terminal at 3,370 Old Kings Road.
According to reports, Midwest Transport was trying to secure funding to keep its operations running, but unfortunately, they ran out of time. A major creditor, whose identity has not been revealed, had a loan that was in default. The creditor unexpectedly decided to take action, which included demanding that the company stop its business activities and appointing a receiver to take control. Silent Layoffs Surge in Silicon Valley As Tech Giants Aim To Avoid Bad Press, Adopt Techniques Like ‘Work From Office’ To Trigger Job Cuts: Report.
Reports also indicate that the company has also shut down three additional terminals across the country, along with its corporate office in Illinois. In total, this might have resulted in the termination of 504 employees. The letter from the company does not specify the exact number of job cuts at each terminal in Florida. As per reports, the state’s Worker Adjustment and Retraining Notification database shows that 111 jobs were impacted at each of the Florida locations.
(The above story first appeared on LatestLY on Oct 08, 2024 05:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
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