As job losses continue to mount in New York, more than 50 companies have announced this year that they are slashing jobs—a majority citing “economic” reasons for their decision.
An analysis of records filed with the New York State Department of Labor shows thousands of jobs are being cut. From the start of the year through March 5, a total of 53 companies have filed notices.
Some companies are closing all together while others are downsizing. The job losses span across all industries, including pharmaceutical, lumber, health care, financial, and transportation.
Manufacturing and union jobs are also among the losses.
Private businesses in New York with 50 or more full-time workers must file a Worker Adjustment and Retraining Notification with the state 90 days before they plan to lay off 25 or more employees. The analysis by the Washington Free Beacon includes those companies, not others who may have cut workers but are not required by law to file with the state.
Some blue chip companies, such as Pfizer and Alcoa have announced mass layoffs. Pfizer, which is restructuring its operations, is laying off a total of 44 workers. Its layoffs will be complete by June 17.
Alcoa will be closing its remaining two potlines at its Massena East smelter in the state this quarter and in a statement indicated the potlines are “no longer competitive.” Alcoa will lay off 332 workers on April 17, retaining 50 temporarily to decommission the plant.
Several hospitals and medical centers this year have also announced they are closing and cutting workers. From Long Island to Brooklyn, these medical facilities are cutting thousands of jobs.
Interfaith Medical Center in Brooklyn announced it will be closing. It laid off 1,405 workers earlier this year. SUNY Downstate Medical Center Long Island College Hospital in an amended filing announced 1,442 worker layoffs starting in February and ending on March 10.
Cuts to the workforce have also been announced at St. Mary’s Hospital for Children and its Early Intervention Program. That program will cease in May. The hospital’s operations will be affected in various locations.
JP Morgan Chase, which announced it will lay off up to 8,000 workers, has a huge presence in New York. The financial giant said aside from its mortgage operations, it will cut some staff at its branches because of reduced customer demand. It has a total of 808 branches in New York.
Three other financial companies have also announced cuts in their workforce in their mortgage servicing divisions. Wells Fargo, DE Capital Mortgage, and PHH Mortgage are either closing or scaling back, and all are cutting workers.
Democratic Gov. Andrew Cuomo in his state of the state address two months ago claimed credit for creating 400,000 private sector jobs in the state—the most jobs created in the state’s history.
A recent deal the governor struck with IBM to save jobs in the Hudson Valley and surrounding areas of New York may only be temporary. The governor said in a release that IBM jobs will stay in New York. IBM pledged to maintain its 3,100 jobs in the region, but only through the end of 2016.
Cuomo’s economic development policies have come under fire, most recently from Westchester County executive Rob Astorino.
Astorino, who announced on Wednesday he is running for governor, cited the amount of jobs that are leaving the state in a video posting.
He said New York is losing jobs to locations such as Huntsville, Ala., and states such as Florida, Texas, and North Dakota.
“These are the places where the jobs are going—the ones that used to be in New York,” Astorino said. “Families, seniors, and businesses” are all “leaving the state in droves.” He cited high cost of living and “killer” property taxes.
As previously reported, Remington Arms recently announced expansion plans in Huntsville but not at its Ilion, N.Y., location, where it has operated for nearly 200 years.
Two other companies also announced they are moving out of New York.
Royal Pet Supplies Inc. announced on Wednesday it was closing its Suffolk County plant and laying off 123 workers in June. The reason for its dislocation is “consolidation of operations to Easton, Pa., site.”
The Olean-based Advanced Monolythic Ceramics closed its plant in January, laying off all its workers. The company decided to leave New York for California. The manufacturer said in its filing its reason for closing was “economic/consolidation of manufacturing to CA site.”
A recent Bureau of Labor Statistics report shows that the New York City region is lagging behind in job growth and has not experienced robust growth during the recent recovery.