Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Chicago-area companies planning almost 400 layoff

Posted: May 8th, 2011 | Author: | Filed under: By Location, USA | Tags: , | No Comments »

Five Cook County companies have notified the state they plan a total of nearly 400 job cuts this summer.

Bank of America Corp.’s Rolling Meadows regional operational center will eliminate 110 jobs, according to a monthly Worker Adjustment and Retraining Notification Act report released by the Illinois Department of Employment Security. The North Carolina-based bank did not respond to a request for comment.

The Worker Adjustment and Retraining Notification Act — known as Warn — requires firms with at least 75 employees to give the state 60 days’ notice of closings or a certain number of layoffs.

From: Chicago Buisness

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