ALLENDALE, MI (WKZO AM/FM) – The west Michigan economy could lose up to $10 million due to layoffs in Kalamazoo at Pfizer and LG Energy Solution in Holland.
Grand Valley State University associate dean and economics professor Paul Isely says there will be less spending from the nearly 400 people impacted.
He says LG is cutting workers because of a decrease in demand for electric vehicles, while Pfizer is due to lower demand for COVID-19 treatments.
Isely is predicting more layoffs at other companies into 2024.
