Samsung Electronics to Move Headquarters to Texas
Samsung Electronics America Inc. is shifting its headquarters from New Jersey to Texas as part of a strategic plan aimed at fostering long-term growth.
Mars Wrigley has announced plans to lay off hundreds of employees while relocating its headquarters from Newark, New Jersey, to a larger site in Chicago.
The company issued a notice in New Jersey on Friday, stating it will be eliminating 307 jobs at its Newark office and will cease operations in the city by mid-October.
Mars Wrigley, a division of Mars Incorporated, is known for a variety of popular candy brands, including M&M’s, Snickers, Milky Way, Twix, and Skittles.
This decision follows a significant $100 million investment into expanding their facilities in Chicago, where their global headquarters is currently situated.
Concerns Over Job Losses in New Jersey
The New Jersey Chamber of Commerce and Industry expressed concern over the departure of high-profile companies, highlighting the urgent need for the state to improve its business climate.
On what should have been a joyful summer Friday, NJBIA CEO Michele Siekelka commented on the unfortunate news regarding yet another exit of job creators from New Jersey. “We need to take a firm stand on this issue and do something now to send a message to our biggest employers that things are going to change,” Siekelka said.
Mars Wrigley has been contacted for comments regarding this shift.
Mars Wrigley’s Future in New Jersey
Despite moving its corporate operations to Chicago, Mars Wrigley plans to maintain a manufacturing facility in Hackettstown, New Jersey.
The company has expanded its presence in the area after acquiring Wrigley Corp. in 2008, as well as Keranova Inc. last year, which produces various snack foods like Pringles and Cheez-Its, following its spin-off from Kellogg Co.
The NJBIA revealed that New Jersey has seen the loss of over 9,700 jobs through WARN notices this year, amidst other notable corporate relocations.
Recent Corporate Moves
Earlier in June, Samsung announced its move from Englewood Cliffs, New Jersey, to Texas.
Additionally, ExxonMobil shareholders recently voted to relocate the energy company’s state of incorporation from New Jersey, where it had been rooted for 144 years, to Texas.
