logo
Electronics manufacturer VIRTEX Enterprises laying off 84 employees in Austin

Electronics manufacturer VIRTEX Enterprises laying off 84 employees in Austin

Yahoo18-04-2025

VIRTEX Enterprises LP, an electronics manufacturing services company located in Austin, is laying off 84 employees, according to a WARN notice posted on Wednesday.
The layoff date is June 14. VIRTEX has not responded to requests for comment.
VIRTEX manufactures circuit card assemblies, cables and harnesses, machined parts and electronic systems for small and medium-sized customers in industrial, aerospace, defense, automotive or medical industries. VIRTEX is based in Austin and has facilities in Plano, as well as in other states like Wisconsin, Massachusetts, New Hampshire, Virginia, New Jersey and in Juarez, Mexico.
Over the past two years, layoffs in Austin's tech industry have been piling up.
More: Tech layoffs are piling up in the Austin area. Which companies have been hit and why
In January, 3D-printing construction tech company ICON laid off over a hundred employees, citing a team realignment and renewed focus on development of its new robotic printing system.
Round Rock-based Dell Technologies announced that an unspecified number of employees would be laid off in August, citing a pivot to artificial intelligence innovation. According to its annual report to the U.S. Securities and Exchange Commission in March, Dell Technologies has reduced its global workforce by over 10% over the past 12 months.
Google, Indeed, Intel, Expedia, Bumble, Tesla, Microsoft and more have announced layoffs that affected employees in Austin since 2023. Many have pointed to the economy and a unique period where the tech industry is in flux.
This article originally appeared on Austin American-Statesman: Electronics manufacturer VIRTEX Enterprises laying off 84 employees

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Comtech: Fiscal Q3 Earnings Snapshot
Comtech: Fiscal Q3 Earnings Snapshot

San Francisco Chronicle​

time25 minutes ago

  • San Francisco Chronicle​

Comtech: Fiscal Q3 Earnings Snapshot

CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Comtech Telecommunications Corp. (CMTL) on Monday reported earnings of $33.9 million in its fiscal third quarter. The Chandler, Arizona-based company said it had net loss of 49 cents per share. Losses, adjusted for non-recurring costs and stock option expense, came to 18 cents per share. The communications company posted revenue of $126.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $124.1 million.

Leaders of ‘orgasmic meditation' women's wellness company OneTaste convicted in forced labor trial
Leaders of ‘orgasmic meditation' women's wellness company OneTaste convicted in forced labor trial

San Francisco Chronicle​

time25 minutes ago

  • San Francisco Chronicle​

Leaders of ‘orgasmic meditation' women's wellness company OneTaste convicted in forced labor trial

NEW YORK (AP) — The leaders of a sex-focused women's wellness company that promoted 'orgasmic meditation' have been convicted of federal forced labor charges. A Brooklyn jury on Monday found Nicole Daedone, founder of OneTaste Inc., and Rachel Cherwitz, the California-based company's former sales director, guilty of forced labor conspiracy after deliberating for less than two days following a roughly monthlong trial. Daedone's defense team had cast her as a 'ceiling-shattering feminist entrepreneur' who created a unique business around women's sexuality and empowerment. But prosecutors argued the two women ran a yearslong scheme that groomed adherents — many of them victims of sexual trauma — to do their bidding. They said Daedone and Cherwitz used economic, sexual and psychological abuse, intimidation and indoctrination to force OneTaste members into sexual acts they found uncomfortable or repulsive, such as having sex with prospective investors or clients. The two told followers the questionable acts were necessary in order to obtain 'freedom' and 'enlightenment' and demonstrate their commitment to the organization's principles. Prosecutors said OneTaste leaders also didn't pay promised earnings to the members-turned-workers and even forced some of them to take out new credit cards to continue taking the company's courses. OneTaste started in San Francisco around 2005 as a sort of self-help commune that viewed female orgasms as key to sexual and psychological wellness and interpersonal connection. A centerpiece was 'orgasmic meditation,' carried out by men manually stimulating women in a group setting. The company quickly opened outposts from Los Angeles to London following glowing media coverage in the 2010s. At the time, OneTaste was portrayed as a cutting-edge enterprise that prioritized women's sexual pleasure. But Daedone sold her stake in 2017 — a year before OneTaste's marketing and labor practices came under scrutiny. The company's current owners, who have rebranded it the Institute of OM Foundation, have said its work has been misconstrued and the charges against its former executives were unjustified.

Ollie's says the 18 Big Lots stores it took over are 'off to a very strong start'
Ollie's says the 18 Big Lots stores it took over are 'off to a very strong start'

Yahoo

time25 minutes ago

  • Yahoo

Ollie's says the 18 Big Lots stores it took over are 'off to a very strong start'

Ollie's Bargain Outlet says early returns have been positive after taking over 18 stores from Big Lots, which filed for bankruptcy in 2024. Between January and May, Ollie's opened 25 new stores throughout the country − a record for the Pennsylvania-based retailer. Eighteen of those stores were former Big Lots locations. Earlier this year, Ollie's acquired 40 Big Lots locations through auction, as the latter filed for Chapter 11 bankruptcy in September 2024. As of May 3, Ollie's operates 584 stores in 32 states. "These stores are off to a very strong start," Ollie's CEO Eric van der Valk said of the new stores during an earnings call on June 3. "We appear to be benefiting from the fact that these are warm boxes, with a built-in discount customer shopping base, which was our hypothesis going in." In addition to the new store openings, Ollie's experienced a 13.4% increase in sales during its first quarter, a total revenue of $576.8 million, according to a news release. With the slogan "Good Stuff Cheap," Ollie's is a discount retailer that offers closeout and excess inventory for lower prices. The retailer sells items like clothing, home goods, toys, hardware, food and books. Discount stores: Ollie's Bargain Outlet to acquire 40 store leases from struggling Big Lots To find the Ollie's nearest to you, visit the Ollie's website at Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: Ollie's takes over 18 Big Lots stores, says it's off to 'strong start' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store