183-year-old giant tool company closes factory, lays off dozens

Stanley Black & Decker Inc., a renowned manufacturer of tools, announced on Aug. 19 that it will close its underperforming factory in Hampstead, Maryland, resulting in the layoff of 55 employees. The closure, set to begin on Oct. 23, 2026, and conclude by March 26, 2027, was prompted by a decline in production volume, as stated by a spokesperson for the company.

Stanley Black & Decker, which traces its origins back to 1843, became the world's largest tool company in 2025 with $15.13 billion in revenue. The Hampstead factory, originally built in 1951, once employed 2,000 workers and was used for powdered metal manufacturing, warehousing, and limited distribution. Despite its closure, the company aims to provide support to impacted employees, including options for employment at other Stanley Black & Decker facilities and job placement services.