3 ms·
Perhaps this isn't just a case of labor costs and failure of automation but also a story of business venture that simply failed due to a once-in-a-century pande
by r00fus 3y ago
Perhaps this isn't just a case of labor costs and failure of automation but also a story of business venture that simply failed due to a once-in-a-century pandemic and our government's poor handling of it (by two administrations):
"Executives said at Stanley’s May 2019 investor day that the factory would be in production in 18 months. Former employees said that timetable, thrown off by the pandemic, meant the system wasn’t properly tested before being brought up to scale. "
Consequently:
"By then, Stanley had already announced it was divesting its security business, its oil-and-gas unit and a door-making division in a bid to become a more focused company. An earnings call in July 2022 revealed that the core tool business had suffered a sudden drop in demand after the boom times of the pandemic."