Jan 3, 2013
Commerce Corporation Closes Business, Lays Off Workers

Commerce Corporation issued a notice to its employees that it will close its business and terminate all employees.

Maryland-based Commerce Corporation issued a notice to its employees that the company would be closing its business, liquidating assets and eliminating all employees.

Layoffs began Dec. 27, 2012 and will result in the ultimate termination of all Commerce employees. The memo included a list of job titles that will be impacted and the number of people in each position, totaling 267 employees.

Commerce CEO Richard Lessans was unable to provide the employees the 60 days’ notice of the mass layoff as required by the Worker Adjustment and Retraining Notification Act, as the plant closing came as a result of “unforeseen business circumstances,” according to the memo.

To read the entire notice, click here.