Major Michigan Companies Announce Hundreds Of Layoffs This Year

Several big brands in Michigan have announced plans to downsize their companies or close their doors completely. And more employees in Michigan will soon be out of a job as major companies have announced hundreds of layoffs this year.

Major Michigan Companies Announce Hundreds Of Layoffs This Year

Many big brand retail chains have announced closures and permanent layoffs of employees in Michigan and the U.S. The pandemic's impact on retail, along with factors like inflation and rising labor costs, has caused many brick-and-mortar stores to struggle to stay afloat. But, national retail chains aren't the only businesses struggling due to economic challenges. Some of Michigan's biggest companies also announced massive layoffs in 2024 and the trend continues this year as more cuts and closures are looming.

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According to the Michigan Department of Labor and Economic Opportunity (LEO), the Federal Worker Adjustment and Retraining Notification (WARN) Act requires employers to provide advance notice- at least 60 days- in cases of qualified plant closings and mass layoffs. WARN notices listed through January alone include 6 major companies laying off 647 employees. The notices have continued with one of Michigan's most popular banks announcing another round of layoffs.

According to a recent WARN notice, Flagstar Bank plans to lay off over 400 workers at its Corporate Drive site in Troy. The bank recently laid off employees in October when the Troy location fired 113 employees and their Jackson office fired 60 employees.

Check the list below for other major companies in Michigan that have also announced they will let go of more than 100 employees soon.