Business & Tech
New Britain Company Lays Off 1,000 Workers: Report
A New Britain-based company has announced 1,000 employees' jobs will be lost, but another 9,000 will be brought back after a furlough.
NEW BRITAIN, CT — Stanley Black & Decker announced that it will permanently layoff about 1,000 employees, according to Hartford Business Journal. However, it will reverse temporary furloughs and hour reductions for another 9,000 workers.
Executives of the New Britain-based company said in a call with investors that the company's second-quarter profits dropped 33 percent. However, the company is seeing a strong trend in retail home sales, possibly connected to more people embarking on do-it-yourself projects, Hartford Business Journal reported.
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