Smith & Wesson Announces Layoffs

Smith & Wesson said it’s cutting about 15% of its work force, blaming slumping sales and a boycott by buyers angry about its gun-safety deal with the government. The company, which is owned by Tomkins of Britain, said it would lay off about 125 employees, including some managers, at its plant in Springfield, Mass., within a week. 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.