300 workers blindsided by Illinois plant’s abrupt closure — after it served as a local linchpin for 60 years
ABC 7 News
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274 people found themselves unemployed after suddenly closing their doors on June 2, the Moment Packaging Company in Illinois suddenly closed their doors.
It was initially built in 1962 and has been a fist in a tightly knitted community, which has been operated by Johnsonville Foods as a sausage manufacturer since 1995, working for more than twenty years.
Employees were invited to a meeting in Kankakee, a nearby town where Johnsonville’s CEO surrendered shocking news: the Momence facility immediately entered into force.
Among those affected, there was Lupe Hernandez, who worked there for 25 years and told to ABC7 News, “Do you know if they don’t care about us? [The] The same day? “
Momence Mayor Charles Steele said that he received only a 15 -minute title from the company. Other local leaders were blind.
“When there was a few weeks ago, the facility manager talked about more than $ 1 million equipment,” Kankakee County Economic Alliance and CEO, “a few weeks ago.” He said. “If they invest in the infrastructure, it means they plan to stay for a while.”
“We made a hard decision after evaluating how to optimize our operation network best to address the current and future growth.
New facilities have two in Wisconsin and one in Kansas. Johnsonville expects to create about 100 new jobs between two Wisconsin locations until the end of its third quarter. It plans to destroy the Momence facility by the end of the year and to transfer its assets to other facilities.
The company promised to continue to provide wages and benefits to the affected workers for 60 days, and added that this will work through additional conditions of a separation package in the coming weeks.
This was some help, but Hernandez had planned to work for three more years to pay his house.
As of June, the US unemployment rate was 4.1%, similar to what the country saw last year.
Works continue to be added – 147,000 positions in June – and weekly unemployment aid showed a slight improvement. Unemployed allegations for the week ending on July 12th, the revised 228,000 level of the previous week fell to 221,000. This means that one makes a little less claim than expected.
However, these numbers are still important. And for any American who is affected by a surprising dismissal or closing process, the risk of falling into consumer debt traps increases significantly.
Without consistent payment, people often rely on credit cards or loans to cover the basic costs. US credit card debt exceeded 1.18 trillion dollars in the third quarter of 1.18.
And for those who approach the retirement age, losing a long -standing job can lead to financial crises including mortgage payments, decreasing savings and health expenses. Hernandez is an example of such a Johnsonville worker because he has done a banking for a few more years to finish the mortgage.
An action worthy of the bat is to evaluate all your monthly costs and how they fit with your new monthly budget.
Try to determine normal payments that reduce areas where you can reduce your monthly spending power or costs. If you are paying insurance, it can give you some support for your shopping budget.
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If you are dismissed and close to retirement, you may need to delay until your financial situation is stabilized.
This may require a lot of time, effort and attention. If you are already investing for retirement, it may be a good idea to get some of the mental burden to manage your pension investments.
Here are automatic investment instruments Oak acorn Enter the game. The purchases made on your linked loan or debit card automatically turn into the nearest dollar and Smart Investment Portfolio of ETFs. In this way, every dollar you spend automatically goes to your investments, which can help you address your debt.
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This kind of emergency creates awareness about how important a rainy daily fund is. You can start as small as $ 25 a week and eventually create a better buffer.
To do this, you can help you have the appearance of your financial status in crystal clarity, so you know exactly how much you can lift. This is Budgeting Platforms Ruler’s money Bride. The application offers a top -down perspective on all your income, debt and investments when connecting your accounts. In a post -employment, this can help you follow basic line elements, such as severance pay or other unemployment advantages.
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When receiving your accounts in turn, it is also important to remember to reach for help in the short term.
Hernandez was given a 60 -day fee and benefits after the termination, but not everyone gets so much. File the requests to reduce income gaps as much as possible for unemployment advantages. It is also a good idea to take advantage of any state -specific source that can give paper on the difference.
Finally, be sure to look at career centers and community colleges for resume development workshops. Like Hernandez, if you have spent part of your life with a employer, it is important to get up -to -date advice in the labor market.
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This article only provides information and should not be interpreted as advice. It is provided without any warranty.
