Layoffs

Vectren division sale costs 120 miners their jobs

August 24, 2014
Associated Press
Evansville-based Vectren Corp. says 120 southwestern Indiana coal miners will lose their jobs by month's end as the natural-gas utility completes the sale of its coal-mining subsidiary.
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Struggling Angie's List lays off 97 salespeople

August 22, 2014
Mason King
The consumer-review firm told federal regulators Friday that the move was "part of a focus on improving salesforce performance and productivity."
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Unemployment applications drop to lowest level in 7 years

July 17, 2014
Associated Press
The numbers suggest a strengthening job market, especially since hiring is at its healthiest clip since the late 1990s, and the 6.1 percent unemployment rate is at a 5 1/2-year low.
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Factory for refurbishing buses to close doors

May 14, 2014
Associated Press
Many of the 160 workers for ABC Companies in Nappanee will have a shot at jobs in a nearby plant for building double-decker buses.
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Hospitals might limit executives' pay hikes after run of big increases

May 3, 2014
J.K. Wall
Before local hospitals slashed staff and expenses last year, they had been boosting the pay packages of their top executives faster than hospitals around the country. Seven of every 10 senior executives at the major hospital systems in Indianapolis saw their total compensation rise more than 10 percent from 2010 to 2012.
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Toolmaker's warehouse to close, laying off 80

April 23, 2014
Mason King
Irwin Tools plans to shut down its 456,000-square-foot warehouse and distribution center in Greenfield and consolidate operations elsewhere.
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Another printing plant to close, laying off 59

April 17, 2014
Associated Press
The move to end operations at the plant for medical packaging is just the latest in the continuing reshuffling of printing facilities in Indiana.
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Indiana Limestone wins court approval for auction

March 17, 2014
 Bloomberg News and IBJ Staff
The owner of Indiana Limestone Co. has received court approval to hold an April sale to see whether there are any better offers for virtually all its assets than the $26 million bid by lender Indiana Commercial Finance LLC.
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Bloomington limestone firm to close, lay off 166

February 25, 2014
 IBJ Staff
An 88-year-old Indiana company that supplied limestone to many of the country's most important buildings is going out of business.
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New owner plans to reopen RV factory

February 19, 2014
Associated Press
The factory's Florida-based parent company closed the plant without notice on Feb. 10, ending the jobs of about 85 workers and turning away those who arrived for work in the morning.
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Lighting factory to close, laying off 95 workers

February 13, 2014
Associated Press
In 2008, the Federal-Mogul factory in Avilla announced an expansion that could bring employment to 170 by 2010. But the company says it now has only 95 employees.
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Printing facility to close, terminate 150 employees

November 4, 2013
 IBJ Staff
Big changes in the media industry have dramatically lowered the amount of work available for Multi Packaging Solutions Inc.'s printing plant in Terre Haute.
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Wiley cuts at least 70 Indy employees in restructuring

September 30, 2013
Kathleen McLaughlin
John Wiley & Sons Inc., publisher of the "For Dummies" series, has sent dozens of local jobs to foreign markets as it tries to save $80 million company-wide.
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IU Health to lay off 800 employees

September 12, 2013
J.K. Wall
The Indianapolis-based hospital system said Thursday it must make the cuts because fewer patients have been coming to hospitals and payment rates for its services have been declining.
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Indianapolis Star hit with new round of job cuts

July 31, 2013
Chris O'Malley
Thirteen employees have been shown the door in the fifth round of layoffs in five years at the state's largest newspaper.
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Flavor-maker to close Indy plants, lay off 47

July 23, 2013
Mason King
Kerry Ingredients & Flavours LLC plans to consolidate the Indianapolis manufacturing operations into other U.S. facilities. Thirty-five temporary workers also will lose positions.
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Phone company lays off hundreds amid inquiry

July 15, 2013
Dan Human
A subsidized phone service provider under scrutiny from Indiana regulators is laying off hundreds of salespeople across the country amid inquiries into its sales tactics.
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St. Vincent Health eliminating about 865 jobs in Indiana

June 28, 2013
J.K. Wall
It was not clear how many workers were losing their jobs in the Indianapolis area. However, people familiar with the cuts said the reductions were heavy in the administrative ranks, and many of those jobs are on the city's north side.
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IPS to lay off 109 workers, look for further cuts

June 26, 2013
J.K. Wall
The state’s second-largest public school district is continuing to look for further cost reductions in its operations and, down the road, in its buildings.
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International Paper to fold local plant, laying off 91

April 30, 2013
Mason King
The shutdown is the latest in a recent string of layoffs and closures by the global company in its Indiana operations.
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Expected revenue slump spurs Lilly to cut sales force

April 11, 2013
J.K. Wall
The Indianapolis pharmaceuticals giant said Thursday that it would lay off hundreds of U.S. sales reps, as it prepares for the loss of patent protection on two of its best-selling drugs.
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Communications firm plans 100-plus area layoffs

April 1, 2013
 IBJ Staff
Fort Wayne-based communications firm Briljent LLC plans to lay off between 100 and 130 employees at its Indianapolis office after losing a large federal contract with the Centers for Medicare & Medicaid.
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Auto parts supplier lays off 200 in northeastern Indiana

March 1, 2013
Contech Castings LLC has suspended certain operations at plants in Auburn and Pierceton and laid off more than 200 employees after losing a customer to a competitor.
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Indiana auto parts supplier lays off 130 workers

February 25, 2013
Associated Press
A Contech Castings spokesman said the company's Auburn plant laid off about half of its work force Friday after losing a contract last week.
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UPDATE: Sensient to cut 125 jobs due to Chicago move

February 14, 2013
Sensient Technologies Corp. has alerted state officials that it will lay off 125 workers from its Indianapolis operations. That follows the company's announcement that it plans to move its local Flavors & Fragrances Group headquarters to suburban Chicago.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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