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Old 09-30-2021, 08:04 PM
 
33,755 posts, read 16,753,571 times
Reputation: 17050

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Anyone know how many jobs Smith & Wesson has in Deep River, Ct? They are going to Tn. No WARN notices yet.

Tn facility operational in 2023. All affected will be offered chance to keep their jobs.

https://www.nbcconnecticut.com/news/...essee/2593510/

 
Old 09-30-2021, 08:42 PM
 
230 posts, read 216,732 times
Reputation: 641
I just posted about Smith & Wesson on the Massachusetts forum.

S&W owns and operates a plastic molding injection facility in Deep River. The facility serves both S&W and an external customer base. According to the company's website, the Deep River facility will be sold and the S&W plastic molding injection operations will relocate to Tennessee. However, "the external customer business will remain in Connecticut and will be divested."

So, it's possible the facility will continue operating in some capacity under new ownership.
 
Old 09-30-2021, 08:46 PM
 
33,755 posts, read 16,753,571 times
Reputation: 17050
Quote:
Originally Posted by Old Dominionite View Post
I just posted about Smith & Wesson on the Massachusetts forum.

S&W owns and operates a plastic molding injection facility in Deep River. The facility serves both S&W and an external customer base. According to the company's website, the Deep River facility will be sold and the S&W plastic molding injection operations will relocate to Tennessee. However, "the external customer business will remain in Connecticut and will be divested."

So, it's possible the facility will continue operating in some capacity under new ownership.
That would be terrific. I wonder what the internal/external revenue split is. That would never be publicized.
 
Old 09-30-2021, 09:26 PM
 
33,755 posts, read 16,753,571 times
Reputation: 17050
https://www.nhregister.com/news/arti...rc=nhrhpdesecp

Glad Avelo is coming, as Tweed is leaving New Haven's Tweed Airport.
 
Old 10-01-2021, 06:31 AM
 
9,784 posts, read 7,044,450 times
Reputation: 11378
Quote:
Originally Posted by BobNJ1960 View Post
Anyone know how many jobs Smith & Wesson has in Deep River, Ct? They are going to Tn. No WARN notices yet.

Tn facility operational in 2023. All affected will be offered chance to keep their jobs.

https://www.nbcconnecticut.com/news/...essee/2593510/
S&W is moving their HQ along with manufacturing of AR style products to TN as well as closing the CT and a facility in MO. 700 jobs moving is the number stated with about 500 from MA so the numbers from the other two states is lower.

Job loss is job loss and hurts.
 
Old 10-01-2021, 07:10 AM
 
7,912 posts, read 7,740,728 times
Reputation: 4146
Years ago pricewaterhousecoopers said that they were committed to staying in Hartford for seven and a half years and it was in 2018.
https://www.hartfordbusiness.com/art...-hartford-home

Jobs also and Stanford they've spent tens of millions and offices and now...
https://news.yahoo.com/exclusive-pwc...211505808.html

"Accounting and consulting firm PwC told Reuters on Thursday it will allow all its 40,000 U.S. client services employees to work virtually and live anywhere they want in perpetuity, making it one of the biggest employers to embrace permanent remote work."

Okay so if this is virtual did they even have to show up at all?

" PwC employees who choose to work virtually would have to come into the office a maximum of three days a month for in-person appointments such as critical team meetings, client visits and learning sessions, Seals-Coffield said."

3 days a month? That's going to take a huge hit out of Hartford. They have over 500 job openings and if they're able to be done virtually there's no way these bars and restaurants are going to survive. We're talking about potentially thousands of people that no longer have to go in every day or even every week 3 days out of a given month is a 90% reduction.

"We're confident we can manage hybrid teams," Seals-Coffield said. She added that PwC's research suggests that 30% to 35% of its eligible workers will take the firm up on the offer. PwC has 55,000 U.S. employees in total, and with its new policy, the majority will be able to work virtually if they want."

Will Deloitte and KPMG be next? Governor Lamont and the mayors of the state should examine this.
 
Old 10-01-2021, 08:38 AM
 
1,888 posts, read 1,161,223 times
Reputation: 1778
Quote:
Originally Posted by JayCT View Post
I’m not sure you are correct. Remember our state is No. 1 for Hedge Finds per capita and No. 3 in the world overall with Hedge Funds valued at over $750 billion. When ranked by funds over $1 billion, we rank No. 2 in the world. Cryptocurrency is just another type of investment. If Hedge Funds can thrive here I don’t see why cryptocurrency can’t. Jay

https://www.cthedge.org/
Yes some Hedge funds are entering into Crypto but it's just reallocating some money. Might not be much in the way of additional jobs.
Pure cyrpto companies don't have the motivation to be near Wall st.
Typically younger folks who wish to be elsewhere.
Crypto farming will never be here as our electric rates are about the highest in the country.
 
Old 10-01-2021, 08:40 AM
 
1,888 posts, read 1,161,223 times
Reputation: 1778
Quote:
Originally Posted by mdovell View Post
Years ago pricewaterhousecoopers said that they were committed to staying in Hartford for seven and a half years and it was in 2018.
https://www.hartfordbusiness.com/art...-hartford-home

Jobs also and Stanford they've spent tens of millions and offices and now...
https://news.yahoo.com/exclusive-pwc...211505808.html

"Accounting and consulting firm PwC told Reuters on Thursday it will allow all its 40,000 U.S. client services employees to work virtually and live anywhere they want in perpetuity, making it one of the biggest employers to embrace permanent remote work."

Okay so if this is virtual did they even have to show up at all?

" PwC employees who choose to work virtually would have to come into the office a maximum of three days a month for in-person appointments such as critical team meetings, client visits and learning sessions, Seals-Coffield said."

3 days a month? That's going to take a huge hit out of Hartford. They have over 500 job openings and if they're able to be done virtually there's no way these bars and restaurants are going to survive. We're talking about potentially thousands of people that no longer have to go in every day or even every week 3 days out of a given month is a 90% reduction.

"We're confident we can manage hybrid teams," Seals-Coffield said. She added that PwC's research suggests that 30% to 35% of its eligible workers will take the firm up on the offer. PwC has 55,000 U.S. employees in total, and with its new policy, the majority will be able to work virtually if they want."

Will Deloitte and KPMG be next? Governor Lamont and the mayors of the state should examine this.
This is the problem I saw with the beginning of WFM thanks to CV.
The lines get blurry between WFH and outsourcing.
Be careful what you wish for......you might just get it.
 
Old 10-01-2021, 10:19 AM
 
Location: CT
720 posts, read 911,543 times
Reputation: 449
CT gets an F rating - the worst fiscal ranking of any state in the entire nation!

According to Truth in Accounting’s 2021 report, Connecticut taxpayers sit at an overall state debt burden of $62,500 per person!!

We need to cut costs, stop wasting taxpayer money and make CT more affordable for all!!

https://www.truthinaccounting.org/li...oklet-2021.pdf
 
Old 10-01-2021, 02:16 PM
 
21,528 posts, read 30,936,665 times
Reputation: 9610
Truth in Accounting published and released its annual ranking of states by fiscal health. I admittedly don’t know much about this think tank, but they ranked Connecticut’s fiscal health dead last of all 50 states.

Financial State of Connecticut

Despite receiving support from COVID relief grants and other federal programs, Connecticut’s overall financial condition worsened during the onset of the pandemic. Based upon the state’s fiscal year 2020 audited financial report, Connecticut had a Taxpayer BurdenTM of $62,500, earning it an “F” grade from Truth in Accounting.

Connecticut’s elected officials have repeatedly made financial decisions that left the state with a debt burden of $79.6 billion. That burden came to $62,500 for every state taxpayer. Connecticut’s financial problems stem mostly from unfunded retirement obligations that accumulated over the years. The state had only set aside 43 cents for every dollar of promised pension benefits and 5 cents for every dollar of promised retiree health care benefits.

Connecticut did not have enough money set aside to weather the pandemic and the state has been in dire fiscal shape for years. Like all other states, Connecticut received federal assistance from the CARES Act and other COVID-19 related grants which came with stipulations on how the money could be spent. The state has not been properly funding its pension and retiree health care promises for years which has led to its financial condition continuing to deteriorate.


https://www.truthinaccounting.org/li...l7XJhjbOd_aAkE

Edit to add: looks like I was beat by a couple of hours in posting this.
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