By Vivek Patil| April 9, 2023 | Get the data
The Worker Adjustment and Retraining Notification (WARN) Act in New York State requires employers with 50 or more employees to provide advance notice of mass layoffs or plant closings. As if April 10, 2023, a total of over 59 companies in New York State have issued WARN notices, impacting thousands of workers across the state.
As per the data from the WARN database, over 9,500 jobs will be lost in New York State due to mass layoffs and plant closings in the first half of 2023 alone.
A treemap visualization of the data shows that the industries hit hardest include Finance, Healthcare and Tech with a combined total of over 6,000 job losses across the state.
Hardest Hit Sectors in New York State Layoffs
Healthcare
Information Technology
Retail Trade
1727
713
1308
Finance & Insurance
2974
Other services
Manufacturing
882
633
Transportation
Food & Accomodation
217
377
Utilities
Education
594
Non-Profit
110
30
The data reveals that the main reasons for the mass layoffs and plant closings are economic factors and loss of contracts. Many companies have been forced to downsize or restructure due to financial challenges, including reduced consumer spending and supply chain disruptions.
Others have lost major contracts or customers, leading to a reduction in workforce. While some industries have been hit harder than others, the impact of these layoffs is being felt across multiple sectors in New York State.
Perhaps the most drastic impact of the layoffs can be seen in the more than 30 companies that are entirely closing off their plants, resulting in the loss of all jobs at those locations. These closures are hitting workers and communities hard, as entire local economies can be upended by the loss of a major employer. As policymakers and industry leaders search for solutions to support affected workers and industries, addressing the challenge of plant closures will be a critical priority.
Goldman Sachs and Google together Lay Off Approximately 3245 Employees
Bed, Bath & Beyond, Inc.
140
Goldman, Sachs & Co., LLC
2358
887
Amazon
299
Source: WARN NY 2023 Database
The WARN (Worker Adjustment and Retraining Notification) Act, passed by the United States Congress in 1989, has been a crucial safeguard for American workers facing mass layoffs and plant closures. The Act is meant to protect employees as to provide them notice before such laying off, giving them and their families time to prepare for the transition to new employment or training opportunities.
Out of the 59 companies that issued WARN notices as od April 10, 2023, only 11 of them had union representation.
As per the WARN Act, companies are required to file notice three months prior to mass layoffs or plant closings, giving workers and communities some advance notice of the impending job losses. Many companies that planned to lay off workers filed their notices in January 2023, which means that the month of April is expected to see the highest number of layoffs.
3,000
April will see over 3400 layoffs
2,500
2,000
1,500
1,000
500
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
2023
Source: WARN NY 2023 Database
The WARN data provides a sobering glimpse into the impact of mass layoffs and plant closings on workers and communities across New York State. From Finance and Healthcare to Tech, Hospitality, Retail, and Manufacturing, the layoffs have affected workers across multiple industries and regions of the state. While policymakers and industry leaders search for solutions to support affected workers and industries, the WARN Act continues to play a critical role in providing some advance notice of impending job losses. As the state continues to grapple with the economic fallout of the pandemic, it will be important to monitor the situation closely and take proactive steps to support affected workers and communities.