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Mid-August Layoffs Announced


Following our most recent article in our layoff series, we have more job cuts to announce.

Returning companies to our layoff radar include Daimler AG and more.

Other companies added on our layoff radar include Dollar Tree, FireEye and more.

In another update to our article series on layoffs (links below), we have a handful of new companies to add to our watch as well as two returning companies back on our radar.

Caterpillar Inc. (CAT):

Caterpillar Inc. notified the state of Wisconsin the other day that they would be closing down their Prentice, WI facility that produces forest products. This facility will be shutting down soon, starting September 30th. This move will end up cutting about 150 jobs in the area, and is part of CAT's "global restructuring and cost reduction efforts." The facility's forest products production will be taken over at CAT facilities in Georgia and Texas.

FireEye Inc. (FEYE):

FireEye Inc. missed their sales targets this week and announced some cost reduction measures to help combat metrics such as cost per share and loss per share which came in above estimates, which is in addition to missing revenue and total billing estimates. As a part of this cost-cutting plan, FireEye's board approved a cut of nearly 12% of their workforce. This means FEYE will be cutting roughly 400 of its total 3400 employees in the coming months.

Daimler AG (DDAIF):

Daimler AG's Freightliner trucks division is back on the layoffs radar with another round of job cuts. This time cutting roughly 115 jobs at its Gastonia, NC plant, Freightliner has now announced nearly 300 job-cuts to date. These cuts are in expectation of fewer truck-build orders for Freightliner, and are going to start as soon as August 12th.

Bank of America Corp. (BAC):

Bank of America Corp told the state of Illinois that they would be cutting approximately 141 employees come September of this year as a part of greater "consolidation" efforts.

Dollar Tree, Inc. (DLTR):

As some readers will recall, Dollar Tree acquired its rival, Family Dollar last year (link below). Now it is time for Dollar Tree to start cutting costs and...