Posted on 10/21/2004 10:52:14 AM PDT by Willie Green
For education and discussion only. Not for commercial use.
U.S. toolmaker Black & Decker says it will dismiss about 700 employees, shut two factories and move production offshore.
The moves follow a $775 million merger with Pentair's Tools Group unit that Black & Decker bought this month, the Baltimore Sun reported Wednesday.
Workers at the acquired unit will bear many of the job losses: as many as 75 sales, management, marketing and engineering employees out of 1,800, most of whom are in manufacturing and distribution, will be cut at two plants, and more than 100 sales representatives will be fired by year's end.
Black & Decker also will cut 130 full-time employees by the end of the year and 200 temporary workers immediately at a Black & Decker plant in Fayetteville, N.C.
Further, the company, based in Towson, Md., is moving a production line that makes drills, reciprocating saws and motors to Reynosa, Mexico, and production of large angle grinders to the Czech Republic.
Nah, its an illusion, I tell ya. Doesn't affect anybody important anyway.
So? Companies do have to make a profit to stay in business.
BUMP
Thank god they are shipping these jobs overseas to save the high paying techincal jobs here.
Right Willie?
Tools from China are junk.
The problem with B & D is that they tried to get too big for their britches and it backfired. They should have stuck to their niche - drills and power tools. They tried to produce other products that were inferior to the competition and which created a glut in the market.
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Hey Willie,
I guess you didn't get the memo. Pat says he's back on W's team. Get with the program!
Black and Decker has bee off shoring for awhile now. I refuse to buy their tools anymore.
This sucks, we just lost a FritoLay plant here in Allan Park as well.
Boeing wins 3.8-billion-dollar order for planes
I like the first one because Eurocopter is a subsidiary of Airbus, and the copters will be built in Mississippi. In-sourcing rocks.
Thank you so much for the news of the new hirings. So I guess that it's ok if the President takes 700 jobs away from people so long as the President creates 701 new jobs.
He sure must be a very busy man creating and destroying jobs all day long.
Moving to Calcutta soon.
Going to be a low wage pimp tycoon.
I like this one because it hits the in-sourcing trifecta. Foreign firm, semi-conductor industry, primary export market: China. Rock on, Samsung!
The President took them? Did someone leave the gate open? Or was it outright larceny?
How did the president destroy or create those jobs? Please let us all know, so we can save the country.
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