SWFI Daily Layoffs Briefing, January 26, 2021
Posted on 01/26/2021
1. Alpha Media Holdings is a Portland, Oregon media company that owns radio stations KXL, KINK and KUPL, along with more than 200 other stations around the U.S. The company recently filed for Chapter 11 bankruptcy. Alpha Media Holdings owes more than US$ 103 million to a single lender, ICG North America Holdings (Intermediate Capital Group). Portland-based PE firm Endeavour Capital invested in Alpha Media in a bid to help fuel growth for the company.
2. FedEx plans to chop up to 6,300 jobs in Europe as it eliminates staff redundancy following the 2016 takeover of Dutch delivery service TNT. This will occur over an 18-month period.
3. The Museum of Contemporary Art Chicago laid off dozens of workers on last Thursday.
4. State Street Corporation plans to eliminate approximately 1,200 jobs in 2021, mostly in middle management.
5. Bank of New York Mellon Corporation initiated a round of layoffs in January 2021.
6. Instacart Inc. is laying off around 1,900 employees, including 10 workers who recently formed a union.
7. Aurora Cannabis laid off sales staff after selecting Great North Distributors to be its sales representative for the Canadian recreational marijuana retail environment.