Latest news with #KaiBockmann
Yahoo
24-06-2025
- Business
- Yahoo
Roughly 600 employees being laid off in Blue Diamond Growers Sacramento flagship manufacturing plant closure
Blue Diamond Growers will permanently close its flagship Sacramento processing plant, which will result in the loss of approximately 600 jobs in the region. The 115-year-old company blamed maintenance costs and persistent inefficiencies for the shutdown. The company will consolidate manufacturing work into its existing facilities in Turlock and Salida, which are located in California's Central Valley. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'Our Sacramento team's work ethic and incredible drive have enabled us to build Blue Diamond into what it is today,' CEO and president Kai Bockmann told ABC News. 'However, the challenges of running a plant from these historical buildings has become too costly and inefficient. Streamlining our manufacturing plants is the right business move.' Founded in 1910, Blue Diamond has long been a fixture in California's agricultural sector. In the meantime, the cooperative is offering severance packages, relocation support and incentives to 600 employees to help with the transition. Despite the company's assurances, the closure has sparked concerns about Sacramento's ability to support major businesses. 'Proof is in the pudding,' Sanjay Varshney, a finance professor at Sacramento State University., told ABC News. 'Blue Diamond walking away is just another sign that there's something wrong with how we are doing business here.' Varshney cited Sacramento's high cost of living, burdensome regulatory environment and business-unfriendly conditions as key deterrents. He dismissed the idea that international trade or tariffs were the main reasons for the closure. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it A layoff can make a big impact in your financial situation, not to mention your emotional well-being. The good news is you can help navigate the fallout with a clear game plan. Know your benefits and severance: Insist on everything in writing and review every aspect of your exit package including your severance pay, company-sponsored health coverage and any outplacement services. If your employer-provided health insurance ends, consider COBRA coverage or explore plans through Covered California or Losing a job qualifies you for a special enrollment period. Apply for unemployment insurance immediately: File a claim through your state's unemployment office. Unemployment benefits become available only after your claim is processed, so don't delay. In California, most workers qualify for 50% of their regular wages, up to $450 per week for as long as 26 weeks, though exact amounts depend on prior earnings and state rules. Reassess your finances: Review your monthly expenses and cut nonessentials. Use emergency savings wisely and contact lenders or utility companies to discuss bill assistance programs or payment deferrals if needed. Update your resume and tap your network: Network with former colleagues, industry contacts and career counsellors. Inform your LinkedIn network, for example, that you're open to work and consider attending local job fairs or virtual networking events. Consider retraining or upskilling: Free or low-cost training programs are available through local workforce development centers and platforms like Coursera or LinkedIn Learning. Focus on in-demand fields like health care, logistics and technology. Blue Diamond's shutdown echoes a nationwide surge in layoffs. The U.S. Bureau of Labor Statistics reports that 1.8 million workers have lost their jobs in 2025. In Sacramento, the loss of a century-old employer underscores that even the most established businesses can falter amid shifting economic currents — and highlights the urgency of diversifying the region's economic base. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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
Yahoo
22-06-2025
- Business
- Yahoo
Roughly 600 employees being laid off in Blue Diamond Growers Sacramento flagship manufacturing plant closure
Blue Diamond Growers will permanently close its flagship Sacramento processing plant, which will result in the loss of approximately 600 jobs in the region. The 115-year-old company blamed maintenance costs and persistent inefficiencies for the shutdown. The company will consolidate manufacturing work into its existing facilities in Turlock and Salida, which are located in California's Central Valley. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'Our Sacramento team's work ethic and incredible drive have enabled us to build Blue Diamond into what it is today,' CEO and president Kai Bockmann told ABC News. 'However, the challenges of running a plant from these historical buildings has become too costly and inefficient. Streamlining our manufacturing plants is the right business move.' Founded in 1910, Blue Diamond has long been a fixture in California's agricultural sector. In the meantime, the cooperative is offering severance packages, relocation support and incentives to 600 employees to help with the transition. Despite the company's assurances, the closure has sparked concerns about Sacramento's ability to support major businesses. 'Proof is in the pudding,' Sanjay Varshney, a finance professor at Sacramento State University., told ABC News. 'Blue Diamond walking away is just another sign that there's something wrong with how we are doing business here.' Varshney cited Sacramento's high cost of living, burdensome regulatory environment and business-unfriendly conditions as key deterrents. He dismissed the idea that international trade or tariffs were the main reasons for the closure. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it A layoff can make a big impact in your financial situation, not to mention your emotional well-being. The good news is you can help navigate the fallout with a clear game plan. Know your benefits and severance: Insist on everything in writing and review every aspect of your exit package including your severance pay, company-sponsored health coverage and any outplacement services. If your employer-provided health insurance ends, consider COBRA coverage or explore plans through Covered California or Losing a job qualifies you for a special enrollment period. Apply for unemployment insurance immediately: File a claim through your state's unemployment office. Unemployment benefits become available only after your claim is processed, so don't delay. In California, most workers qualify for 50% of their regular wages, up to $450 per week for as long as 26 weeks, though exact amounts depend on prior earnings and state rules. Reassess your finances: Review your monthly expenses and cut nonessentials. Use emergency savings wisely and contact lenders or utility companies to discuss bill assistance programs or payment deferrals if needed. Update your resume and tap your network: Network with former colleagues, industry contacts and career counsellors. Inform your LinkedIn network, for example, that you're open to work and consider attending local job fairs or virtual networking events. Consider retraining or upskilling: Free or low-cost training programs are available through local workforce development centers and platforms like Coursera or LinkedIn Learning. Focus on in-demand fields like health care, logistics and technology. Blue Diamond's shutdown echoes a nationwide surge in layoffs. The U.S. Bureau of Labor Statistics reports that 1.8 million workers have lost their jobs in 2025. In Sacramento, the loss of a century-old employer underscores that even the most established businesses can falter amid shifting economic currents — and highlights the urgency of diversifying the region's economic base. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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
Yahoo
16-06-2025
- Business
- Yahoo
Blue Diamond Growers to close plant in California
Blue Diamond Growers, a cooperative of almond growers in the US, is to shut and sell its plant in midtown Sacramento, California. In a bid to "streamline" operations, the group said it will move 'most' of its manufacturing operations at the over 50-acre facility to its sites in Turlock and Salida, California. Blue Diamond Growers added that the relocation positions its processing operations closer to many of its farmer-owners and 'enhances its footprint in the region'. 'The challenges of running a plant from these historical buildings has become too costly and inefficient," said Kai Bockmann, president and CEO of Blue Diamond Growers. "Streamlining our manufacturing plants is the right business move to further strengthen our market-leading position and bring increased value to our grower members.' The transition will start later this year, with approximately 10% of plant employees exiting initially, Bockmann added. The full process will take place in phases over the next 18 to 24 months, with roughly 600 people being affected by the closure. Bockmann said: 'Even though most employees will not leave this year, we want to be transparent and tell our people as soon as possible. We are committed to putting in the energy, time and resources to help our impacted team members.' Set up in 1910, Blue Diamond Growers represents nearly 3,000 of California's almond growers and employs around 1,400 people across its processing plants. Blue Diamond said it would offer incentives for employees to stay during the transition, alongside severance and outplacement services for the impacted positions. Some team members will also be given the choice to work at other locations. The group's corporate office is expected to remain in Sacramento. "Blue Diamond Growers to close plant in California" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CBS News
06-06-2025
- Business
- CBS News
Blue Diamond Growers to close historic Sacramento plant, shift operations to Central Valley
The Blue Diamond Growers facility will be winding down operations and leaving its historic midtown Sacramento plant, the company announced Friday. In a statement from Blue Diamond Growers CEO Kai Bockmann, the challenges of running a plant from a historic facility was among the reasons cited for the impending closure. "Our Sacramento team's work ethic and incredible drive have enabled us to build Blue Diamond into what it is today," Bockmann stated. "However, the challenges of running a plant from these historical buildings has become too costly and inefficient." Blue Diamond said the move will start later in 2025 when about 10% of the Sacramento plan employees are expected to exit. About 600 workers will be impacted by the closure, according to Blue Diamond. Most of Blue Diamond's operations will be transferred to the company's plants in Turlock and Salida. Blue Diamond stated that they'll be offering some workers the opportunity to work at the other facilities. Blue Diamond noted that their corporate headquarters will be remaining in Sacramento. Down the line, Blue Diamond noted that they will be looking at selling the more than 50-acre Sacramento property.
