Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Stanley Black & Decker, a manufacturer of industrial tools and household hardware headquartered in New Britain, Connecticut, has laid off 1,000 jobs in its finance division. Sources who are familiar with the matter said the company made the decision to reduce costs.
It was also noted that Stanley Black & Decker’s action came at a time when many firms in the tech and financial industry were also trimming down their workforce. Cryptocurrency exchange companies are also cutting jobs and halting hiring activities as global economic growth starts to slow down because of inflation, higher interest rates, the European energy crisis, and more.
According to Reuters, another major firm that recently stopped hiring is Mark Zuckerberg’s Meta company. Stanley Black & Decker, which is also known for its other brands, such as DeWalt and Craftsman, is looking to save up to $200 million before this year ends.
It was reported that the new job cuts are just a portion of the company’s broader layoffs that already started in July. As of January this year, the firm has a total of 71,300 employees worldwide, and the number has apparently decreased now due to the layoffs.
Stanley Black & Decker said in July that the slowdown in demand and sales coupled with the rising interest rates in May and June caused it to miss its profit and sales estimate for the second quarter.
Moreover, The Wall Street Journal reported that the company’s cost reductions are part of its plans to slash costs by $1 billion by the end of 2023 and $2 billion in the next three years. Chief executive officer Donald Allan Jr. said in July that these cost-cutting measures “are necessary as we successfully navigate the current market environment.”
In any case, since the job cuts within the company started a few months back, many departments were affected, and so far, finance and information technology have had the most layoffs. A large part of Stanley Black & Decker’s analytics unit, with around 200 staff, also saw many of its team members go in early August.
