Devastating news has just hit Waco, Texas as a historic factory will be ending operations and laying off hundreds of employees. Job loss can never happen at a "Good time," but to discover your income and ability to provide for your family is going to occur simultaneously with the holidays is the ultimate definition of "Bad timing."

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When you combine the factory's established place in the community that has literally been a multigeneration source of employment with the overall job climate of Texas, it totally comes out of left field for such a closure to be announced.

What does the factory closing mean to residents and employees in Waco, Texas?

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There are a few immediate things that will happen for the soon to be out of work current employees of Owens-Illinois Glass. They will go through the process of applying for Texas state unemployment, and start the journey to finding a new job.

Here are a few recommendations on how to tighten up on revenue during a layoff:

  1. Cancel any and all subscription services that aren't entirely necessary. Yes, that includes Netflix.
  2. Adjust your comfort zone. This includes things like food costs, thermostat, and impulse purchases.
  3. Chop your entertainment schedule, this is not a time for concerts, movies, and dining out.

O-I Glass Company is not going out a business, they are just shuttering the Waco operations with production scheduled to end October 16th, and the factory will close for good on December 1st. You can read more in this KWTX article.

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