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News / Business / Clark County Business

Tech company Jabil to lay off 120, close its east Vancouver branch operation

Firm said last year it would sell part of business

By Sarah Wolf, Columbian staff writer
Published: March 4, 2024, 5:59pm

American high-tech company Jabil is laying off 120 people amid the closure of its Vancouver operation.

The company Monday issued a state-required notification that layoffs would begin in May, but it did not immediately respond to The Columbian’s inquiries.

Jabil’s operation was based at the Vancouver Innovation Center near Fisher’s Landing in east Vancouver.

Jabil Inc. began operating in Washington in 2022, according to the Secretary of State’s office.

The company began hiring for a slew of technical positions in March of that year.

The company, based in St. Petersburg, Fla., signed a definitive agreement with BYD Electronic last September to sell its mobility business for $2.2 billion. The mobility business manufactured components for consumer electronics.

Shortly thereafter, the company announced it would be restructuring, including making “headcount reductions.”

Jabil brought in $8.4 billion in its last fiscal quarter that ended Nov. 30. The company trades on the New York Stock Exchange as JBL. Its stock closed Monday at $148.62 per share, up $1.44 from Friday’s closing price.

Jabil is involved in several industries, including energy, capital equipment, appliances, defense and aerospace, and health care.