Stanley Works Layoffs Job Cut: fires 2000 employees, closes 3 plants

The economic crisis is hitting all sectors. Stanley Works, a tool maker company has decided to go for layoffs - around 2000 employees will be fired by the company. Not only that, 3 plants will also be closed down by the company.

How many employees will be fired by Stanley Works layoffs?
Around 2000 employees will be asked to leave their jobs - this makes 10% of its total employee strength.

How many manufacturing plants will be closed by Stanley Works ?
Three manufacturing plants will be closed by the company.

What are the reasons for the Stanley Works layoffs?
The company is quoting the reasons of weakness in its construction and industrial segments and the effect of a stronger dollar.

Any specific class of segment of employees affected in Stanley Works layoffs?
Majority of them will be production jobs as the company is closing on some plants. Also, it will involve job cuts in the management.

Which plants will be closed by Stanley Works?
No information is given by the company about the plants which will be closed down.

Stanley is the latest tool and industrial products maker and obviously, being the biggest it will be the first to feel the heat of the economic downturn.
Let's hope that alternative jobs are available to the affected employees of Stanley Works Layoffs Job Cut.