From: "N. L. Cobb", [EMAIL PROTECTED] Thursday October 19 7:51 PM ET Smith & Wesson Cutting Work Force By JEFF DONN, Associated Press Writer SPRINGFIELD, Mass. (AP) - Smith & Wesson is cutting about 15 percent of its work force, blaming slumping sales and a boycott by buyers angry over its gun-safety deal with the government. The company said Thursday about 125 workers, including some managers, would be laid off within the next week at the company's Springfield, Mass., plant. ``One of the frustrating things for us is that some of the damage has been done by the pro-gun side. Some of the employees leaving here are members of these pro-gun organizations,'' said Ken Jorgensen, a Smith & Wesson spokesman. Jorgensen tied his company's latest layoffs to both an industry-wide slump in sales and the reaction of some consumers to the gun-safety agreement. Under the agreement signed with municipal, state and federal officials in March, Smith & Wesson promised to demand background checks on gun-show buyers, install safety locks, and work on high-tech guns that can be fired only by their owner. In exchange, public officials agreed to drop Smith & Wesson from some city and other government lawsuits challenging the safety and marketing practices of the gun industry. While Smith & Wesson says it remains legally bound to the accord, the company is working with public officials to achieve some ``clarifications'' about the agreement, Jorgensen said. He would not specify on which points they disagreed. ``Hopefully, that will be positive for everyone,'' he said. Smith & Wesson's was the nation's biggest handgun maker for years, but Sturm, Ruger & Co. surpassed Smith & Wesson last summer in number of handguns sold. Smith & Wesson's workforce peaked at about 2,000 in the mid-1970s. There are currently 725 workers in Springfield and 100 in Houlton, Maine. The company has been fighting to turn around its sales for months. In July, it sent many workers home and suspended most of its manufacturing. Recent weeks have brought other signs of turmoil. On Oct. 6, the gunmaker announced it was replacing Ed Shultz, its president since 1992. It named George Colclough, an executive with the company for 25 years, as his replacement. The next week, Smith & Wesson's British owner, Tomkins PLC, announced that its longtime chief executive, Greg Hutchings, was leaving. David Newlands, who was acting as the non-executive chairman since June, was named to take his place. The move followed a series of allegations in the British media about excessive company perks. Company officials have acknowledged they would consider selling Smith & Wesson. But Smith & Wesson officials have said in recent months that it would be virtually impossible to find a good buyer now. Smith & Wesson is the country's oldest gunmaker. Horace Smith and Daniel B. Wesson founded the company in 1852 to develop a gun that could shoot self-contained cartridges, avoiding the need for loose gun powder, balls and primer. Smith & Wesson is known historically for its widely used six-shot revolvers and weapons that were once standard sidearms for U.S. soldiers. Shares of Tomkins PLC were up 12.5 cents, or 1.3 percent, at $9.31 on the New York Stock Exchange (news - web sites) on Thursday afternoon. Cybershooters website: http://www.cybershooters.org List admin: [EMAIL PROTECTED] ___________________________________________________________ T O P I C A The Email You Want. http://www.topica.com/t/16 Newsletters, Tips and Discussions on Your Favorite Topics
