First Brands cuts 4,000 jobs and shuts 17 plants amid restructuring

First Brands urged a US federal bankruptcy judge to approve a restructuring plan as it seeks to fund litigation against former executives accused of fraudulent practices. Earlier this year the company shut 17 plants and cut 4,000 jobs as new leadership uncovered pervasive wrongdoing and lenders refused to fund a costly turnaround. The restructuring plan centers on a litigation trust intended to pursue up to $1 billion from executives alleged to have looted the company; founder Patrick James faces criminal fraud charges related to fabricated invoices and other executives have pleaded guilty. First Brands warned the Financial Times that failure to approve the plan could force a chaotic Chapter 7 liquidation and is seeking approval to proceed with the proposed restructuring and asset sales.

First Brands Group, LLC cut 4,000 jobs.

LayoffTalk has tracked 24 layoff events at First Brands Group, LLC since October 2023, including 1,787 jobs documented in official WARN filings, with 16 additional events known from news reporting.