💰 Stanley Black & Decker cuts about 1,000 finance jobs, Wall Street Journal reports

TL;DR

Sept 30 (Reuters) - Power tools maker Stanley Black & Decker (SWK.N) has cut 1,000 finance roles this week in an effort to trim costs, the Wall Street Journal reported on Friday citing people familiar with the matter.The move comes at a time when several technology companies, crypto exchanges and financial firms are cutting jobs and freezing hirings as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe.read moreMost recently, Facebook-parent Meta Platforms (META.O) said it is freezing hiring, according to a Bloomberg News report which quoted Chief Executive Mark Zuckerberg's communication with employees.read moreRegister now for FREE unlimited access to Reuters.comStanley Black & Decker, whose brands include DeWalt and Craftsman tools, looks to cut up to $200 million in costs by the year end, WSJ reported.The job cuts are a part of broader layoffs within the company that started in July, according to the report."

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