INDIANAPOLIS — More than 500 people will be losing their jobs as two companies in Indianapolis close their doors.
Caito Foods is closing its operation in Indianapolis. The company says they’re closing the facility because they lost a big contract.
333 people will lose their jobs by April 27th.
Another 200 people at a truck financing and fleet management company with also be job searching.
In a notice to the state, 19th Capital Group, based in Indianapolis, said that an exact date for the closure hasn’t been set, but it expects the shutdown will begin in late March, and that employees will work through April.
A company spokesperson told Inside Indiana Business that the freight industry deteriorated rapidly in the second half of 2019. The company will also be closing its Dallas office.