News Formal

With Many Major Company Layoffs, Here's What You Should Know About the WARN Act in Illinois

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

With Many Major Company Layoffs Being Announced, Here's What You Should Know About the WARN Act in Illinois

"A WARN notice is required when a business with 100 or more full-time workers is laying off at least 50 people at

Akorn Operating Co., which is based in the northeastern Illinois city of Gurnee, told its 400 workers last month that it planned to file for bankruptcy and they would be laid off within 24 hours,. CEO Douglas Boothe told employees in a video that the company's leaders decided on the move after failing to find a buyer for the company.

A spokesperson for the Illinois Department of Labor said the agency is investigating the situation because Akorn didn’t file the required 60-day notice of mass layoffs or plant closures.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pritzker makes stop at UIUC to promote investment in higher educationIllinois Gov. J.B. Pritzker made a stop at the University of Illinois in Champaign Wednesday. Will students in Champaign finally learn to read and write? Probably for lunch. That's why all the fast food restaurants were closed for restocking
Source: fox32news - 🏆 547. / 51 Read more »