Hartford Business Journal

4 HARTFORDBUSINESS.COM | OCTOBER 30, 2023 BIZ BRIEFS with its popular geared turbofan (GTF) engines. The subsidiary of defense giant RTX also reported an 83% decline in sales, to $926 million. However, that number included a $5.4 billion charge related to repairs on its GTF engines. RTX first disclosed the engine quality issue during its second- quarter earnings call in July. RTX said it will need to remove 600 to 700 Pratt engines for early inspec- tion over the next few years after finding a rare condition in powdered metal used to manufacture certain GTF engine parts. The contamination could cause cracks to form, the company has said. Without the engine-related charge and other non-recurring costs, Pratt & Whitney said it would have posted a $413 million operating profit in the third quarter, driven by an increase in commercial and military sales. The Hartford to increase employee in-office requirements starting in January Property and casualty insurer The Hartford said it will require workers to spend more time in the office starting early next year, another sign of employers' increasing desires to get back to more regular in-person work schedules. Starting Jan. 2, the majority of The Hartford's employees who have been in hybrid work arrangements will work three days in the office, Tuesday through Thursday, the company said. In addition, some employees who are fully remote will transition to hybrid schedules, while senior executives will work four days in the office, the company said. The Hartford is headquartered in the city's Asylum Hill neighbor- hood. It reported 5,500 Connecticut employees as of November 2022. Bank of America targets 3 CT branch closures The state's largest bank by deposits is targeting new branch closures. Bank of America has informed the federal Office of the Comptroller of the Currency it plans to close three branches in Hartford, Norwalk and the Cos Cob section of Greenwich. The Hartford branch, at 70 Farmington Ave., is on the outskirts of downtown and had $112.5 million in deposits as of June 30, 2023, according to Federal Deposit Insur- ance Corp. data. The Cos Cob branch, at 162 E Putnam Ave., had $111.8 million in deposits as of June 30. The Norwalk branch, at 48 Wall St., had $98.9 million in deposits as of June 30. Bank of America had 90 branches in the state as of June 30, 2023. Waterbury-based Cly-Del Manufacturing acquires Naugatuck tool company Cly-Del Manufacturing Co. in Waterbury has acquired a Naugatuck-based tool company. Cly-Del recently purchased Semco Tool & Manufacturing Co. Inc., which produces custom eyelets and deep-drawn metal components. Cly-Del was founded in 1939 and provides precision-drawn and stamped metal components to companies worldwide. Trinity College to start $30M athletic center expansion Hartford-based Trinity College will be starting construction by year's end on a $30.1 million, 37,000-square-foot addition to its George M. Ferris Athletic Center. The expansion will be built on open space, with a projected March 2025 completion date. The center was originally built in 1968. The addition will feature seven new squash courts, an open-air, second-floor terrace with views of playing fields, and more space to accommodate fans. It will also include a new fitness center, modern work spaces for coaches, five new multipur- pose rooms for team meetings and film viewing, and additional classroom space. Bank of America is planning to close this Hartford branch, at 70 Farmington Ave. PHOTO | COSTAR A rendering of Trinity College's planned $30.1 million, 37,000-square-foot addition to its George M. Ferris Athletic Center.

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