International Automotive Components (IAC) distributed a WARN notice to 111 employees at the end of February. The notice informed them that they would be laid off by April 12th.
The 111 employees work in Madisonville, Kentucky. The company is headquartered in Luxemburg and employs approximately 18,000 people in 17 different countries. The Madisonville location has been manufacturing automotive interior parts since 1994.
This is the latest in a series of mass layoffs for blue-collar Kentuckians. Most recently, several coal mines in the state either downsized or shut down entirely. Western Kentucky Rapid Response teams are working to assist newly unemployed workers by hosting informational sessions and job-training programs.
Coal miners are particularly vulnerable to layoffs due to shifts in energy production, but, according to President Ray Hagerman of Madisonville-Hopkins County Economic Development Corporation, mining is “dwarfed by the manufacturing sector” in terms of economic contributions.
President Hagerman is hopeful, however, that laid-off workers can quickly find new jobs. On March 3rd, in fact, Madisonville Community College hosted a community-wide job fair. The fair advertised an estimated 400-500 jobs. Hagerman also recommends visiting his office’s website for new job opportunities in Hopkins County. The site lists more than 100 companies, many of which are in the industrial sector. Overall, Hagerman believes Kentucky’s job market is more than capable of handling this hit.
Have You Been Recently Laid Off?
Those who aren’t able to secure a job right away may face unexpected financial strain—especially if they are the sole providers in their families. While unemployment benefits may cushion the blow, expenses and bills may begin to pile up over time. Additional emergencies may cause Kentuckians to resort to credit cards or loans.
If you have become unemployed, rest assured you have options and resources at your disposal. In addition to job fairs, community training programs, and unemployment benefits, The Law Offices of Mark Little is here to help you handle challenging financial crises. If you find yourself facing bankruptcy, we can guide you through every step of the process and protect your best interests along the way.