North Carolina Layoffs Spike in 2016
Layoffs so far this year are much higher than the past, with numbers more than tripling last year. Almost three thousand North Carolinian workers are left jobless, and that doesn't account for the businesses that slip through the crack and don't report their layoffs to the state. So much for the so-called "Carolina Comeback"
It’s more than three times the January 2015 total employment impact of 833, and more than seven times the 373 layoff announcements reported in January 2014. In 2013, 2,121 layoffs were reported during the same time period.
This year's mass layoffs include two companies that impact the Triangle: Wal-Mart (NYE: WMT) and Xerox(NYSE: XRX).
Employers planning closures or mass layoffs are required to file what’s called a WARN (Worker Adjustment and Retraining Notification). Mass layoffs are defined as those impacting at least 500 employees, or between 50 and 499 if they make up at least one-third of the employer’s workforce. But, if the pink slips trickle out just underneath that 500 minimum, they could go unreported to the state.