California is in a DOOM LOOP. In October Sacramento will implement a ban on fracking—causing the end of numerous oil fields, well paying jobs, the closing of refineries—and a massive increase in the cost of goods and services—and create our own inflation and DEPRESSION. This will spread across the nation.
Oakland has lost the Raiders, the Athletics, a Dennys, a hotel and much more. The city is preparing the eulogy for its demise which will occur shortly. In some areas of the city, the people have hired private security—instead of depending on the ineffectual Oakland PD.
“California is facing mass layoffs as more businesses leave the state.
More than 1,000 jobs were lost in the Bay Area recently, with hundreds being attributed to the departure of the Oakland Athletics, a Major League Baseball team, from the area.
Moxion Power, a green energy tech company, also announced major cuts, and Vintage Wine Estates is going bankrupt.
Altogether, the area’s WARN letters show that about 1,071 workers are set to lose their jobs in the Bay Area.”
Yet these folks are asking for more problems by continuing to vote for Democrats. They deserve what they get.
Mass Layoffs Hit California as Businesses Fail, Organization Leaves State
By Suzanne Blake, Newsweek, 7/30/24 https://www.newsweek.com/mass-layoffs-hit-california-businesses-fail-baseball-wine-1932143
California is facing mass layoffs as more businesses leave the state.
More than 1,000 jobs were lost in the Bay Area recently, with hundreds being attributed to the departure of the Oakland Athletics, a Major League Baseball team, from the area.
Moxion Power, a green energy tech company, also announced major cuts, and Vintage Wine Estates is going bankrupt.
Altogether, the area’s WARN letters show that about 1,071 workers are set to lose their jobs in the Bay Area.
As the Oakland A’s sets off to Sacramento and Las Vegas, 591 Bay Area workers are expected to be out of a job by October. That includes 415 layoffs under the Athletics Investment Group and 176 job cuts by Bay Area Sports Catering, which served concessions for the MLB team.
“The Oakland A’s franchise encapsulated itself with this moneyball approach where they could find players at a discount and win games,” Kevin Thompson, a former Oakland A’s player and finance expert, told Newsweek. “The product Oakland has put in the field for the past few decades has been paltry at best, and the fans deserve better.”
As the Oakland A’s plans its exit, the team is expected to ride out its 2025 season in Sacramento before opening a new stadium in Las Vegas.
“In April 2024, we announced that 2024 will be our final season in Oakland, and as a result, there will be a reduction in force,” Adam Scoggan, the Oakland A’s vice president of people operations, said in a WARN letter.
Moxion Power is cutting 427 jobs in Richmond, while Vintage Wine Estates is cutting 233 jobs across Sonoma and Napa County.
Vintage Wine Estates filed for Chapter 11 bankruptcy after a large-scale slowdown in U.S. wine sales.
“Unanticipated challenges in integrating acquired businesses, including maintaining overlapping and/or duplicative administrative departments, resulted in unexpected costs,” CEO Seth Kaufman said in a court filing. “At the same time, performance for acquired entities declined unexpectedly.”
Moxion Power’s workers are being let go after the company raised $110 million but failed to get more funding for its new factory.
“I’m writing to you this morning with a heavy heart,” CEO Paul Huelskamp said in an email to workers this month, SFGate reported. “We have not found a path that will allow us to continue operations as Moxion Power Co., and effective today, we will be closing our doors.”
From April through June, tech companies cut more than 7,000 jobs in the Bay Area alone, according to data compiled by SilliconValley.com. That followed a year of steady and consistent layoffs across the industry.
During the pandemic, the tech industry experienced a boom in demand as people sheltered in place and began working from home on a large scale. However, as the pandemic restrictions loosened, people returned to the office, and tech interest waned.
However, HR consultant Bryan Driscoll attributed California’s mass layoffs largely to “corporate greed” and “short-sighted management practices.”
“Companies are cutting costs by slashing jobs instead of investing in their workers and communities, prioritizing immediate profit margins over long-term stability and growth,” Driscoll told Newsweek. “Several organizations are leaving the state, blaming regulations and taxes, but the truth is they want to maximize profits at the expense of employees.”
If companies relocate to states with fewer worker protections and lower wages, they can boost their bottom lines, but such moves could leave a “trail of economic devastation” behind, Driscoll said.
“This exodus and the resulting job losses are devastating to the local economy,” Driscoll continued. “Workers are left struggling, facing uncertain futures, and scrambling to find new employment while executives line their pockets.”
As the cycle of layoffs continues, employees may have less trust in employers moving forward. This effect could be seen not only in California but also in other states, as workers in similar industries take note, said Toni Frana, a lead career expert at FlexJobs.
“Anytime there are mass layoffs, the impact can be felt beyond the organizations making staff cuts,” Frana told Newsweek, adding, “The worry of ripple effects can take hold.”
First, who is the Bryan Driscoll guy and why would they give him and his opinions a voice in this article? Does Bryan think the thousands of businesses that have left California have done it because of “corporate greed”?
Let me also add that the food and foodservice at the Oakland Coliseum was the worst in all of professional sports. The food was horrible (not to mention outrageously expensive!) and you could watch the grass grow under the slow-moving/uncaring staff.
Bryan Driscol must be smoking his socks. Corporate greed has nothing to do with the corporate exits from California and the Oakland Police are not inept. Rules and regulations in California give business no option to stay and the Oakland cops are restricted from doing what was once called police work!