Pummeled by pandemic, CIB making ‘hard decisions’
But Executive Director Andy Mallon says he’s “very confident” the board will recover from not only the pandemic but also necessary spending cuts and financial hits over the next 18 months.
Layoffs
Articles
Elanco to cut 900 jobs in 40 countries following Bayer acquisition
The layoff is the first step in what is expected to be a major restructuring following Greenfield-based Elanco’s $6.9 billion acquisition of German conglomerate Bayer AG’s animal-health division.
Republic Airways to furlough 293 in Indianapolis, 2,500 company-wide
Indianapolis-based Republic expects the layoffs to take place in two waves on Oct. 1 and Nov. 1, although they likely will be temporary for local pilots, flight attendants, dispatchers and maintenance facility employees.
Housing instability could upend state’s economy
Housing advocates are warning of a tidal wave of evictions in the state this summer unless an effort is coordinated to head it off.
Former Celadon affiliate 19th Capital sold in deal that should save dozens of jobs
Two out-of-state financial services firms have acquired the assets of former Celadon Group Inc. affiliate 19th Capital Group in a deal that will allow the Indianapolis-based company to continue operating with a reduced workforce rather than shutting down as previously planned.
Pay cuts, layoffs hit white-collar workers, too
Experts say the wave of layoffs and pay cuts that first ravaged the service industry in mid-March are starting to erode management, upper-level and even executive jobs.
Allison Transmission lands $162M government contract, cuts 272 jobs
The company, which shut down some of its production lines beginning March 30, said the uncertainty caused by the COVID-19 pandemic is forcing it to cut 272 jobs.
Asbury Automotive furloughs 215 employees at local car dealerships
Asbury, which has eight Indianapolis-area dealerships, said it’s furloughing 2,300 employees across its 10-state operating footprint due to a sharp drop-off in sales and service revenue.
Cummins to suspend production at southern Indiana plants
The engine-maker says it will close three Columbus manufacturing sites and one in Seymour until May 4. The news comes a day after the company announced that it would temporarily reduce the salaries of its U.S. employees by 10% to 25%.
Allison Transmission halting production at some Indianapolis sites
Allison said it’s suspending some of its local production lines because the coronavirus outbreak has disrupted supply chains and weakened customer demand.
Wondering if you qualify for unemployment? The answer is probably yes.
State and federal authorities have expanded the eligibility for unemployment benefits significantly, meaning if you’re out of work and didn’t qualify under the old rules, you likely will now.
Greenfield auto parts plant lays off 336 employees in temporary closure
BWI Group—also known as BeijingWest Industries Co.—said the layoffs are necessary because Gov. Eric Holcomb ordered all non-essential businesses closed and because the Ford plants it supplies have shut down their production lines.
Caito Foods to eliminate Fresh Cut produce division, terminate 333 workers
The Fresh Cut operation at Caito’s main campus at 3120 N. Post Road cuts and packages fresh produce for distribution to retailers.
Former Celadon affiliate 19th Capital to close, terminate 199 workers
The Indianapolis-based asset financing and fleet management company notified state officials this week that it will permanently close its operations late next month, eliminating all of its employees.
Century-old Diamond Chain downtown plant with 240 employees set for closure
New owner Timken Co. plans to consolidate the local plant’s operations in Illinois. Diamond Chain was founded in 1890 as the Indianapolis Chain & Stamping Co., originally to produce chains for the nation’s fast-growing bicycle industry.
Carmel-based CNO Financial to cut 230 employees in restructuring
The company said it expects to reduce its annual spending by about $22 million by the end of 2020 as a result, investing about half of that savings into various technology and growth initiatives.
Indiana kitchen products company doesn’t plan to reopen
A company that made kitchen products in Indiana for 117 years has failed to find a buyer and won’t resume local production.
Cummins to cut 2,000 salaried positions in cost-cutting measure
Cummins said the layoffs are part of a wider effort to trim up to $300 million in costs in response to a slowdown in sales demand.
Toolmaker to downsize Greenfield facility, terminate 139 employees
Connecticut-based Stanley Black & Decker said last month that it was planning to cut $200 million in annual costs “from headcount actions across the company as well as executing some footprint rationalization opportunities.”
Justus Rental selling two senior communities, giving notices to 104 workers
More than 100 nursing aides, activities coordinators, cooks and other workers at two Indianapolis senior communities could lose their jobs by mid-October when the properties are sold, owner Justus Rental Properties Inc. said.