Construction services company Katerra Inc. is shuttering is Jersey City office, according to a federal WARN notice, potentially costing nearly 170 employees their jobs.
The company said in the notice filed with the state that 169 workers are at risk due to the closure, dated Friday.
In the notice, the company said it has failed to complete hoped-for transactions to secure funding to prevent the termination of operations. It cited the impact of the COVID-19 pandemic, as well as the unexpected bankruptcy filing of its lender, causing “the recent and rapid deterioration of the company’s financial condition.”
It noted that it was providing less than the required 60 days’ notice due to “natural disaster,” “unforeseeable business circumstances” and “faltering company” exceptions to regulations.
Katerra, which is based in Houston, did not immediately respond to a request for comment.
WARN notices normally cover mass layoffs or facility closings as part of the Worker Adjustment and Retraining Notification Act of 1989.