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Saturday, October 6, 2007

Sea Ray lays off 5% of workforce.

Sea Ray Boats, a division of Brunswick Corporation, announced the immediate downsizing of 180 employees, or roughly five percent of their workforce, citing continued weakness in the marine market. Their plants in East Tennessee and Florida will be affected, as well as the Baja boats division in Ohio.

“These decisions are very difficult, but nonetheless must be made to protect the overall health of the business,” the company said in a statement. “Affected employees will receive assistance in transitioning to other employment.”

The past year has shown the marine industry overall a double-digit decline in demand for new boats. The downturn in the housing market and the tightening of consumer credit has played a large role in the decline.

“Sea Ray has concluded it must take measures to size its costs in line with the declining market,” the statement continued.

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