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Stanley Black & Decker Cuts 1,000 Finance Jobs : Report

Stanley Black & Decker Inc. (SWK) has cut 1,000 finance jobs this week. The jobs cuts are part of the company's effort to cut up to $200 million in costs by year's end amid high inflation and slowing demand, the Wall Street Journal reported citing people familiar with the matter.

The reductions come as Stanley Black & Decker announced ambitious cost-cutting plans in July, including $1 billion in costs by the end of next year and $2 billion in the next three years, the Journal reported.

The company had 71,300 employees globally as of January 2022.

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