Oklahoma has recently witnessed a significant economic challenge with mass layoffs announced by six major companies across various sectors. This wave of layoffs, occurring in December 2023, has impacted the energy, manufacturing, retail, and hospitality industries.
The job cuts and facility closures by these companies have profound implications not only for the affected employees and their families but also for the local economy and communities. This article delves into the specifics of these layoffs and the broader economic implications for Oklahoma.
In December 2023, Oklahoma experienced a wave of mass layoffs, significantly impacting its economy. Six companies across various sectors announced job cuts or facility closures:
- Devon Energy: Announced a layoff of 300 employees, about 7% of its workforce, primarily affecting its Oklahoma City headquarters.
- Chesapeake Energy: Plans to cut 200 jobs, about 15% of its remaining workforce, across its Oklahoma City headquarters and field locations in other states.
- Whirlpool: Will close its Tulsa factory, resulting in the loss of 150 jobs.
- Kimray: Announced layoffs of 65 employees, around 10% of its workforce.
- Macy’s: Closing its store in Oklahoma City’s Quail Springs Mall, affecting 83 employees.
- JCPenney: Shutting its store at the Shawnee Mall in Shawnee, impacting 72 employees.
These layoffs, affecting sectors like energy, manufacturing, and retail, have significant consequences for the local economy and communities
The Impact of December 2023 Layoffs on Oklahoma’s Economy” is an informative article that delves into the substantial economic and community effects of recent mass layoffs announced by six companies in Oklahoma.
The layoffs, affecting diverse sectors like energy, manufacturing, and retail, have profound implications for the state’s economy, especially amidst the COVID-19 pandemic.
The article provides a detailed examination of the specific companies involved, the number of jobs affected, and the broader economic consequences. It emphasizes the need for comprehensive support from governmental and private sectors to assist the displaced workers and address the challenges faced by local businesses and communities.