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220 Dallas-Fort Worth workers given layoff notices across three companies

CVS Health, AppFolio and WayForth are the latest to cut jobs in North Texas.

CVS Health, property management software company AppFolio and moving company WayForth are cutting 220 jobs across Dallas-Fort Worth. It’s the latest round of layoffs across North Texas, after nearly 1,000 workers were laid off earlier this month.

CVS, the health care corporation best known for its national pharmacy chain, is conducting mass layoffs as a part of a companywide restructuring. CVS announced earlier this month it planned to shed 5,000 of its 300,000 workers to reduce expenses due to cost pressures to integrate multibillion-dollar deals.

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CVS is laying off 167 workers at two corporate offices in Richardson and Irving. The list of positions terminated includes a wide range of corporate positions, from administrative assistants and engineers to executive directors, senior managers and vice presidents.

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Exterior view of the CVS store at 5920 W Park Blvd on Thursday, Aug. 13, 2020, in Plano....
Exterior view of the CVS store at 5920 W Park Blvd on Thursday, Aug. 13, 2020, in Plano. (Smiley N. Pool/The Dallas Morning News)(Smiley N. Pool / Staff Photographer)

Workers will begin to be let go starting Oct. 21, according to a Worker Adjustment and Retraining Notification submitted to the Texas Workforce Commission.

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These filings are required for some employers. It requires companies with 100 or more full-time employees to provide a 60-day notice before laying off 50 or more people at a single site. It’s meant to give workers time to look for a new job.

The company reported a 10% increase in total revenues in its second quarter results, up to $88.9 billion.

The company cited the enterprise-wide restructuring plan intended to streamline and simplify the organization. Nationwide, the layoffs will cost the company $496 million in severance and other employee-related costs.

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AppFolio

The cloud-based real estate management platform is laying off 38 people at its Richardson facility, six of which are remote. The job cuts are part of a larger workforce reduction for the Santa Barbara-based company, laying off nearly 150 employees.

In an email sent to the company’s employees, posted to AppFolio’s site, president and CEO Shane Trigg said the firm was not profitable entering 2023.

“Our costs have increased considerably in this environment, and we have not scaled the business efficiently,” Trigg stated. “This has forced us to make these changes in service of our customers and the long-term health of AppFolio.”

Trigg said a reduction in force is a last resort. But other measures they took like shrinking office space and re-evaluating hiring needs, weren’t enough.

In its second-quarter financial report, the company highlighted its revenue grew by 25% since the second quarter of 2022, up to more than $147 million.

WayForth

After failed attempts to partner with private equity firms, the moving services company did not raise the capital needed to continue operating its locations across the country beyond its Richmond, Va., location, according to its WARN letter filed with the TWC.

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In Grapevine, 15 jobs were cut as a result.

Last year, the company celebrated its seventh year and had nearly 450 employees. WayForth opened an office in Sarasota, Houston and Dallas, according to WayForth’s site.

The moving company also provided storage. If customers outside of Richmond have items stored, the company said it notified customers to vacate their storage units. All items must be picked up no later than Aug. 31 or the property could be auctioned or donated.

The company did not respond to questions from The Dallas Morning News.

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