The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 04, 2024, 04:24:36 pm
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Quaker Oats Shutters Danville Plant, 500+ Workers Lose Their Jobs
Simon Kent 4 Apr 2024
The Quaker Oats Company announced Wednesday it is permanently closing its factory in Danville, Illinois, with upwards of 500 employees to be impacted.
The News-Gazette reports Mayor Rickey Williams Jr. confirmed the news to the wider community, with city officials saying:
Today, we learned that after 65 years of production in Danville, Pepsico will close Quaker Oats effective June 8, 2024.
The business has already ceased production but will continue to pay their employees through that time. While this shocks and saddens us, we will unite as a community to help those who have lost their employment.
Williams said he is unsure whether any of the affected employees are being transferred or if they are all being laid off.
A mass layoff “has a terrible impact on the employees and their families,” he said. “It also causes some anxiety to the community at large as well.”
Chicago-based Quaker Oats, a unit of Pepsico since 2001, opened the plant in 1969.
more
https://www.breitbart.com/economy/2024/04/04/quaker-oats-shutters-danville-plant-500-workers-lose-their-jobs/
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Rhetorical questions I ask myself in there situations ...
Why are they closing the plant? (Inertia: What equal or greater force has pushed the shuttering of the plant?)
Are they reducing aggregate production, or, will they get supply/production from another location?
Are they making fewer oats, or, have they found a place to make oats cheaper?
Are they reducing oat production due to decreased demand, increased competition, or to constrain supply to drive up prices/profits?