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Stanley Cuts 36 Jobs in New Britain
New Britain-based Stanley Works is cutting 36 jobs at its hand tools manufacturing facility in New Britain, the company announced Tuesday. Thirty-four people are being laid off. The jobs of two additional workers are being eliminated after they retired, a company spokesman said.
The company blames a volume decline due to weakness in the economy.
Late last year, Stanley announced 2,000 layoffs and three plant closures worldwide, including its wire-making facility in Clinton.
WTIC, Hartford CT
7 comments:
once again, people are losing their jobs all around us and the city council wastes its time jerking around with a socialist agenda that will do nothing but force tax increases on the few people who are left in town to pay the taxes. the mayor seems to be one of the few elected officials that understands the seriousness of the situation.
According to a recent study by noted economist Dr. Anne Layne-Farrar, for every three workers coerced into joining a union under Card Check, one job will be eliminated. That means an estimated 600,000 jobs could be lost due to Card Check in the first year alone.
According to a recent study by noted economist Dr. Anne Layne-Farrar, for every three workers coerced into joining a union under Card Check, one job will be eliminated. That means an estimated 600,000 jobs could be lost due to Card Check in the first year alone.
Though it is sad to see the era of large Manufacturing Companies take its last gasps of air here in New Britain I do not believe that it is all gloom and doom. New Britain with its easy access to all of its surrounding towns is in a prime position for attracting a variety of new businesses. The Grove Hill Medical offices in former factory infrastructure on Lake St are a prime example of the types of business New Britain should be targeting.
Who is it that said New Britain could only be prosperous if it has a manufacturing based economy.
More layoffs at city’s Stanley Works
Tuesday, March 17, 2009 10:56 PM EDT
By SCOTT WHIPPLE
Staff writer
NEW BRITAIN — The Stanley Works, which makes tools and security equipment, said Tuesday it would cut 36 jobs in its hand tools manufacturing facility. Company spokesman Tim Perra said 34 union workers are being laid off; jobs of two additional workers are being eliminated after they retire.
Perra said the reason for the layoffs was “volume decline. We are adjusting the work force to the volume of work going through the plant.”
All affected workers have recall rights and because their work is volume-related production, these workers are not eligible for severance, according to Perra.
Hand Tools manufactures tapes, wrenches, hand saws, tool bags and similar items.
A union official who asked not to be identified said machinists and machinists’ helpers in Locals 1433 and 1249 of the International Association of Machinists and Aerospace Workers were affected.
Our plant manager told us “even though we had been furloughing, it wasn’t affordable to do that any more. We’re running at about 25 percent capacity [in Hand Tools]. So, we’re losing millions of dollars.”
The union rep said he didn’t think Stanley wanted to lay off now.
“We all believe the housing industry is going to rebound and the company hates to lose skilled labor,” he said. “We could even be called back in the summer time.”
The Stanley Works is the city’s second-biggest taxpayer, showing payments of $27.5 million in 2008. It was the city’s sixth-largest employer, with 859 employees before eliminating 2,000 jobs worldwide in December 2008, including 60 jobs in Connecticut.
In 2001, Stanley eliminated its U.S. hardware operations and transferred work from New Britain to plants in China. This followed Stanley’s first round of job cuts in April 1999. At that time, the company employed about 1,900 people in New Britain and Farmington. Figures as to the number of Stanley workers in Farmington were unavailable.
Fourth-quarter 2008 overall profits plunged 94 percent at Stanley Works, Chairman and Chief Executive Officer John Lundgren said in January. However, he assured market analysts by pointing again to the company’s security segment, which has been least affected by the economic downturn, and its growth in revenue of 21 percent for the year, 32 percent for the quarter.
Stanley Works stock closed Tuesday at $28.43, up $1.12.
Scott Whipple can be reached at swhipple@newbritainherald.com or by calling (860) 225-4601, ext. 319.
URL: http://www.newbritainherald.com/articles/2009/03/17/news/doc49c05b24d0da9161414923.prt
© 2009 newbritainherald.com, a Journal Register Property
Anonymous said...
Though it is sad to see the era of large Manufacturing Companies take its last gasps of air here in New Britain I do not believe that it is all gloom and doom. New Britain with its easy access to all of its surrounding towns is in a prime position for attracting a variety of new businesses. The Grove Hill Medical offices in former factory infrastructure on Lake St are a prime example of the types of business New Britain should be targeting.
Who is it that said New Britain could only be prosperous if it has a manufacturing based economy.
That is just the attitude the city needs. Huge factories are a thing of the past. The demolition of Pinnacle Heights will make room for new businesses, hopefully a Corporate Park environment. Just moments away from Rte.72, this will be a bonanza for New Britain when it's completed...
Hopefully, Timothy Stewart will be re-elected in November to see this through.
Now that the socialists have taken over, I wouldn't blame them for moving all of their jobs overseas.
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