First Brands Postpones 345 Layoffs Amid Accounting Scandal
First Brands has delayed 345 layoffs at its TMD Tiffin facility in Ohio, originally scheduled for April 30, and will now proceed with the cuts by May 31. The decision comes amid an ongoing accounting scandal involving the company's former CEO, Patrick James, who was indicted for a multibillion-dollar fraud scheme. The company is also attempting to sell U.S. facilities following a Chapter 11 bankruptcy filing in September 2025.
Topics: Accounting Scandal Bankruptcy Corporate Fraud Layoffs Legal Issues