Michaels Companies Laying Off 146 Workers In Strongsville
STRONGSVILLE, OH — The Michaels Companies are laying off 146 employees in Strongsville, the company said in a filing with the Ohio Department of Jobs and Family Services. The layoffs will impact the company's support and distribution centers in Strongsville.
The layoffs will take effect July 18, according to the company's filing. All affected employees have already been told they are being laid off. The distribution center will layoff 69 workers, while the support center will layoff 77 employees.
“Due to the changing needs of our company coupled with a challenging business environment, we have decided to close our Darice wholesale operations in Ohio. We appreciate the many contributions made by the Darice team members and we will help them through this transition. Many of those team members will continue to service Darice customers over the next several months before we wind down operations," a spokesperson for The Michaels Companies told Patch in a statement.
The Michaels Companies said additional layoffs are likely in September 2020, October 2020 and February 2021. The company said it would provide additional information on those layoffs at a later date, according to the filing.
Investors were told the Michaels Companies would recap their first quarter financial results on June 4. However, in mid-March, Mark Cosby, CEO of Michaels Companies, had an optimistic outlook for the coming months, despite the spread of the new coronavirus.
"In the meantime, we believe we have ample liquidity and considerable financial flexibility to navigate this uncertainty and position Michaels for future success," Cosby said in a statement.
The letter the Michaels Companies filed with the state can be found online.
This article originally appeared on the Strongsville Patch
