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February 06, 2012
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Wills & Trusts News

 

U.S. Labor Secretary Announces $2.2 Million Grant to Aid Dislocated Retail Industry Workers in Massachusetts

WASHINGTON — U.S. Secretary of Labor Elaine L. Chao recently issued a grant of $2,281,237, with an initial increment of $1,110,464, to assist approximately 400 workers affected by the merger of Federated Department Stores with May's Department Stores in Boston. As part of the merger, Federated Department Stores announced the closure of several locations throughout the Commonwealth.

"Massachusetts workers affected by the closure of these facilities will need assistance to gain employment in industries experiencing high growth," said Chao. "Training and other services will be available to affected workers through the more than $2.2 million grant the Commonwealth is receiving. It is important that this funding be used to prepare these workers for careers that offer stable employment and the opportunity to grow."

On Jan. 20, Federated Department Stores issued a Worker Adjustment and Retraining Notification (WARN) stating plans to close nine locations as part of the merger with May's Department Stores. Plans include the closure of Filene's, Macy's and Lord and Taylor department stores throughout the Commonwealth.

The grant, awarded to the Massachusetts Department of Labor and Workforce Development, will provide an array of reemployment services, including skills assessment, individual counseling, case management, job readiness training and occupational training. Other services also may include job search and relocation assistance.

National Emergency Grants are part of the secretary's discretionary fund and are awarded based on a state's ability to meet specific guidelines. For more information on National Emergency Grants and other Department of Labor employment and training programs, please visit doleta.gov/NEG/.

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Today's Terms

Laissez-faire

Definition:
French phrase meaning "leave alone." In economics and politics, a doctrine that the economic system functions best when there is no interference by government.

Inflation

Definition:
A rate of increase in the general price level of all goods and services. (This should not be confused with increases in the prices of specific goods relative to the prices of other goods.)

National Association of Securities Dealers Automated Quotation system (Nasdaq)

Definition:
An automated information network that provides brokers and dealers with price quotations on the approximately 5,000 most active securities traded over the counter.

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Iowa Wills & Trusts Attorney

 
If you live in the following cities and need a Wills & Trusts Attorney you should contact our Wills & Trusts Attorneys as soon as possible:

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