(Source: Chicago Tribune)

By Becky Yerak, Chicago Tribune
Apr. 7--The number of mass layoffs in Illinois is going up.
Through the first three months of 2009, 67 Illinois companies have notified the state that they plan to close operations or cut a significant number of employees at a particular location.
That's up nearly 50 percent from the 45 in the first quarter a year ago, according to records filed with the Illinois Department of Commerce and Economic Opportunity.
Because the labor market usually doesn't hit bottom until almost two quarters after the economy bottoms out, Jack Ablin, Harris Private Bank chief investment officer, said, workers should brace for more bad news before things begin to improve.
Nationally signs seem to be pointing toward layoffs flattening out by the end of the second quarter, although hiring is expected to be slow through year-end, said Jennifer Berman, managing director at CBIZ Human Capital Services in Chicago.
In March, 22 companies alerted the state that they plan plant closings or "mass" layoffs, putting 2,486 workers out of work.
The companies include: Android Industries LLC, a Belvidere maker of engine parts, 273 jobs starting May 22; Mettawa-based financial services provider HSBC, 214 jobs starting May 9; and soybean processor ACH Food Cos., 246 workers in Champaign starting May 27.
The Illinois Worker Adjustment and Retraining Notification Act requires employers to provide 60 days' notice of plant closings or mass layoffs. The law applies to businesses with 75 or more full-time workers.
byerak@tribune.com
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