Master Lock plans to lay off the 325 employees at its Milwaukee facility, located at North 32nd and West Center streets, in several waves.
A WARN notice filed with Wisconsin’s Department of Workforce Development states the first layoffs are expected to begin Nov. 3. Phases of layoffs will continue until March 29, 2024.
“The plant closure was a business decision and not in any way a reflection on our employees in Milwaukee,” reads the notice.
The parent company of Oak Creek-based Master Lock is aiming for $50 million to $75 million in improvements to its operating income through a series of “footprint improvements,” according to the company’s investor materials.
Master Lock is part of the security segment of Fortune Brands Innovations, a Deerfield, Illinois-based company.
Master Lock’s business is increasingly shifting toward connected devices or smart locks. At the Fortune Brands investor day in December, John Lee, the company’s chief strategy and growth officer, said digital products offered a tailwind for the company.
