http://www.bristolpress.com/BP-Bristol+News/401656/stanley-black-decker-laid-off-several-positions-within-the-company
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A hardware and equipment manufacturer based in New Britain confirmed Friday that it has laid off employees this week, citing the current supply chain and inflation.
Stanley Black & Decker, which is located at 1000 Stanley Drive, has laid off several positions within the company. Debora Raymond, Vice President for Public Relations at Stanley Black & Decker, told the Herald that a percentage of employees from the company were being let go, in an effort to realign cost structure due to inflation and supply chain.
“The company is taking steps to align its cost structure with the current environment, specifically inflation and supply chain. This unfortunately has resulted in a small percentage of employees being let go from the company, primarily salaried employees with limited impact to our manufacturing and distribution center operations as demand for our products has been high,” Raymond said.
Raymond did not provide further comment on the layoffs. The Herald could not confirm the number of employees that were laid off or how many were New Britain residents.
In 2020, announce they would permanently layoff about 1,000 employees. They also stated that they would reverse temporary furloughs and hour reductions for about 9,000 other workers, according to Hartford Business Journal.
Stanley Black & Decker was founded in 1843 by Frederick Stanley in New Britain. The company began as a small shop that manufactured bolts, hinges and other hardware from wrought iron. Later, Duncan Black and Alonzo Decker combined their shops to come together as Stanley Black & Decker. The company is currently a leading $14.5 billion global industry with 56,000 employees in more than 60 countries and an S&P 500 company.
In December, Stanley Black & Decker announced that the company had sold most of its security assets for $3.2 billion in cash to security company Securitas AB. The transaction included Stanley Black & Decker’s Commercial Electronic and Healthcare Security business lines as part of the deal. Last month, representatives from the company said the transaction was expected to close in the first half of 2022 contingent upon “receiving regulatory approvals and other customary closing conditions.”
In August 2021, the company shifted one-third of its office employees into a hybrid work model, which meant dividing their time between working on site and working virtually. The change was implemented across its approximately 10,000 positions worldwide, including about 350 positions in Connecticut. The other one-third of employees working virtually full-time and another third are working at one of the 76 Stanley facilities in eight countries worldwide.