December 5 Iowa Economic Round-up: Layoffs, Layoffs, Layoffs
DES MOINES – Iowa’s economy has been ranked the worst in the country. Even Republicans concede Iowa’s is in a “recessionary economy.” Leaders at the Federal Reserve have warned that Iowa’s economy is particularly vulnerable to Republican tariffs and ongoing trade disputes.
Iowa’s unemployment rate rose every month between March and August, according to the Bureau of Labor Statistics data. Layoffs and plant closures have been spreading like a virus across the state in recent weeks, and it doesn’t look like our state’s fortunes will reverse anytime soon.
Here’s what Iowans have been reading the last few weeks:
Four plants announce closings on Iowa WARN site in November
“Four Iowa companies announced closings on the state’s Worker Adjustment and Retraining Notification, or WARN, site in November. The closings resulted in the loss of 144 jobs … The job losses follow a particularly bleak October, when employers slashed more than 150,000 jobs nationwide in the largest wave of layoffs in more than 20 years, according to a report from Challenger, Gray & Christmas. Employers in Iowa issued WARN notices affecting 332 positions for the month.”
Wells Fargo layoffs: Over 100 employees will be laid off by late January
“Wells Fargo will lay off 14 more employees at its West Des Moines location on Jordan Creek Parkway next month. It’s the third round of job cuts at that location since October. According to Iowa WARN, the layoffs will occur on Jan. 23, 2026. In October, Wells Fargo announced 63 workers would lose their jobs at the same office on Dec. 26. Twenty-six more are scheduled to be laid off Jan. 2, 2026.”
“Ceilley Pallets filed a worker adjustment and retraining notification with the state of Iowa regarding the closure of a plant in Waterloo. The 12-person layoff was listed to occur on Nov. 27. The company is closing this location because it lost its main vendor, according to KCRG, and employees were offered two weeks severance.”
2 more Iowa companies close, laying off 98
“Worker Adjustment and Retraining Notification Act data reported that Network Imaging Solutions of North Liberty and Superior Tube Products of Davenport are closing. NIS, a supply-chain company is laying off 70 people, while Superior Tube, a metal tube fabricator, is eliminating 28 jobs in the closures. Superior Tube produces tube for several original equipment manufacturers, better known as OEMs, in many industries, including agriculture, construction, office furniture and more. In Iowa this year, more than 2,500 people have lost their jobs due to layoffs and other factors.”
Cedar Rapids manufacturer to close, laying off 34 employees
“A company in Cedar Rapids is closing and will lay off 34 people next month, according to Iowa WARN. The company is listed as RELCO, a Wabtec Company, on 4200 Thomas Drive. The company will close on New Years’ Eve and lay off 34 employees.”
New details emerge in Collins Aerospace layoff
“Iowa WARN says three people will be affected by the layoffs. Workers were given notice on November 4. Layoffs will go into effect on December 31.”
CNH Finalizes Previously Announced Construction Plant Closure in Iowa
“CNH has finalized its previously announced plan to gradually stop production at its Burlington, Iowa assembly plant by the second quarter of 2026 due to declining demand and underutilization. This closure will affect approximately 200 employees. The company remains committed to supporting impacted employees through negotiated support packages and will maintain a presence in Burlington focused on engineering and testing.”
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