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747 Employees To Be Laid Off From People's United Bank's CT Locations 747 Employees To Be Laid Off From People's United Bank's CT Locations
747 Employees To Be Laid Off From People's United Bank's CT Locations More than 700 employees of People's United Bank's Connecticut locations are set to be laid off. The Connecticut Department of Labor reported that between Oct. 1 of 2021 and May 20, 2022, 747 employees will be laid off.  The news comes after the company announced a merger with M&T Bank Corporation. NBC Connecticut reported that officials said 661 of the layoffs will be in the Bridgeport area, 42 will be in the Hartford area. The layoffs will reportedly impact 16 locations.

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by Nicole Valinote
Business
Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases
Best Buy To Cut 5,000 Jobs, Close Stores As Customers Shift To Online Purchases Best Buy is laying off thousands of workers as the retail giant plans to close some brick-and-mortar stores as the company transitions to focus on its e-commerce business. This week, Best Buy announced that it is laying off 5,000 employees this month with plans to close more stores this year after consumers concentrated on online shopping during the COVID-19 pandemic. According to the company, approximately 40 percent of its sales in the past year came from online purchases, up from 19 percent two years ago, forcing the retailer to transition its business model. While Best Buy laid off 5,0…

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by Zak Failla
Business
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men’s Wearhouse and Jos. A. Bank will close up to 500 stores and lay off 20 percent of its corporate workforce, the California-based company has announced.  Massachusetts and Connecticut combined have more than two dozen such stores. The company has not announced a timeline for closure. Although the company is yet to name which stores are subject to closure: Connecticut has Men’s Wearhouses and Jos A. Banks in over 12 communities including West Hartford, Danbury, Milford, Enfield, Meriden, Glastonbury, and Fairfield. In Massachusetts, shops for Men's Wearhouse and Jos. A. Bank can be…

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by Kristin Palpini
Business
COVID-19: Cheesecake Factory To Close Fairfield County Location COVID-19: Cheesecake Factory To Close Fairfield County Location
Covid-19: Cheesecake Factory To Close Fairfield County Location The Cheesecake Factory plans to permanently close a location in Fairfield County due to the economic impact of the novel coronavirus (COVID-19) pandemic. The closure of the restaurant, located at the Stamford Town Center Mall on Tresser Boulevard, will result in the loss of about 100 jobs and is effective at the close of business on Sunday, Aug. 1. In a Worker Adjustment and Retraining Notification ("WARN") Act filing dated Friday, June 26, the company wrote: "Business conditions rapidly and suddenly deteriorated during the continuing COVID-19 crisis, national emergency, and …

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by Joe Lombardi