A number of manufacturers have announced layoffs in the past couple of weeks, citing weakness in the global automotive, industrial and construction markets.
The Stanley Works announced that it would be cutting 2,000 positions, or 10% of the current employee base. It will also be closing three manufacturing facilities and eliminating certain layers of management.”
In a news release, the company explained:
“During previous recessions dating back to the early 1970s, at times when the company had much higher percentage exposure to CDIY markets and customers than today, the company’s physical unit volume shipments have never declined by 7% or greater for two consecutive quarters. As previously reported, the company’s third quarter 2008 unit volume …
Global Manufacturers Announce Layoffs
A number of manufacturers have announced layoffs in the past couple of weeks, citing weakness in the global automotive, industrial and construction markets.
The Stanley Works announced that it would be cutting 2,000 positions, or 10% of the current employee base. It will also be closing three manufacturing facilities and eliminating certain layers of management.”
In a news release, the company explained:
“During previous recessions dating back to the early 1970s, at times when the company had much higher percentage exposure to CDIY markets and customers than today, the company’s physical unit volume shipments have never declined by 7% or greater for two consecutive quarters. As previously reported, the company’s third quarter 2008 unit volume …
Share this article
- Filed In: Economic Trends, Free, Research & Analytics, Subscriber Only
Lindsay Young
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
