Sudden Mass Layoff Reported at Illinois Carbon Recycling Company

The wheels continue to turn as companies prepare for a new fiscal year which sadly means job cuts for some. There's a new mass layoff that's just been reported for a company that deals with carbon recycling in Illinois.

The state of Illinois has just received a WARN notice which is an alert that a company is about to layoff workers and it's been posted to the Illinois Work Net Center site. It states that LanzaTech Global, Inc. located at 8045 Lamon Ave Ste 400 in Skokie, Illinois will be laying off 44 effective June 1. The reason given for this notice is "mass layoff" according to Illinois Work Net.

Why is this layoff necessary?

There's an article that was shared on the NASDAQ that LanzaTech Global was planning to cut operating expenses by $30 million dollars. These new job cuts at their Skokie, Illinois facility must be a part of that trimming of expenses. Their official site says they "recycle carbon with biology".

The Illinois Work Net Center site says that 1,069 workers in Illinois have been laid off in just the past 30 days with more than 5,500 being let go in the last 90 days. With many companies using July 1 as the start of their next fiscal year, we're unfortunately likely to see more Illinois companies cut costs to improve the bottom line before that date.