The Mysterious Tale of "America's No. 1 Retirement Stock"

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

The No. 1 Crypto for 2024

This Furniture Company Laid Off 2,700 Workers Via Text, Days Before Thanksgiving

Bibhu Pattnaik
November 27, 2022

A Mississippi-based furniture company, United Furniture Industries, has become a bad Samaritan for its employees just before Thanksgiving.

The company fired almost 2,700 employees in text messages and emails.  

The company’s employees, spread across North Carolina, Mississippi, and California, were unemployed before Thanksgiving.

"At the instruction of the board of directors, we regret to inform you that due to unforeseen business circumstances, the company has been forced to make the difficult decision to terminate the employment of all its employees, effective immediately, on Nov. 21," the message read, as quoted by the New York Post

Also Read: Mark Zuckerberg Takes Blame For Over-Optimism As Meta To Lay Off 13% Of Its Staff

“With the exception of over-the-road drivers that are out on delivery. Your layoff from the company is expected to be permanent and all benefits will be terminated immediately without provision of COBRA,” the message added.

Earlier this year, the company fired its chief executive, chief financial officer, and executive vice president of sales. 

“It’s not fair to the laborers who seriously worked so hard to be blindsided like this. It’s not fair to the mom who just had a baby to wonder if she even has health insurance to cover it. It’s not fair to the cancer patient amid chemo about how to pay for her treatments,” the Post quoted one of the laid-off employees as saying.  

United Furniture Industries is now facing a class-action lawsuit for not giving workers proper notice of the firings, it remains unclear what led to the company's sudden step of mass layoffs and the ceasing of operations. 

Photo: Courtesy of shutterstock.com

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