Friday, April 25, 2008
MONACO CUTTING MORE JOBS
RV Business
Friday, April 25, 2008
Monaco Coach Corp. announced today (April 25) that it is cutting 600 jobs, fairly evenly split between the company’s home base in Oregon and its Indiana operations.
“With the decline in consumer confidence, oil prices and the financial market unrest, consumers are delaying the purchase of RVs,” Craig Wanichek, director of investor relations, told RVBusiness. “We also want to size our business to come out of this a stronger company.”
The Coburg, Ore.-based recreational vehicle builder said the layoffs represent about 12% of its work force and included administrative and production employees. In January, Monaco laid off 200 workers at its Wakarusa, Ind., facility.
Wanichek said that employees were informed Thursday and today of the layoff, which reduced the company’s work force to around 4,400 people.
“This is a very difficult decision,” Wanichek said. “It’s not the only cost-saving measure we’re putting in place. We’re also increasing manufacturing efficiencies and trying to be more efficient with our supply chain.”
The announcement comes on the heels of Wednesday's first-quarter earnings report that showed a net loss of $8.5 million. Monaco also projected a loss again for the current quarter.
Friday, April 25, 2008
Monaco Coach Corp. announced today (April 25) that it is cutting 600 jobs, fairly evenly split between the company’s home base in Oregon and its Indiana operations.
“With the decline in consumer confidence, oil prices and the financial market unrest, consumers are delaying the purchase of RVs,” Craig Wanichek, director of investor relations, told RVBusiness. “We also want to size our business to come out of this a stronger company.”
The Coburg, Ore.-based recreational vehicle builder said the layoffs represent about 12% of its work force and included administrative and production employees. In January, Monaco laid off 200 workers at its Wakarusa, Ind., facility.
Wanichek said that employees were informed Thursday and today of the layoff, which reduced the company’s work force to around 4,400 people.
“This is a very difficult decision,” Wanichek said. “It’s not the only cost-saving measure we’re putting in place. We’re also increasing manufacturing efficiencies and trying to be more efficient with our supply chain.”
The announcement comes on the heels of Wednesday's first-quarter earnings report that showed a net loss of $8.5 million. Monaco also projected a loss again for the current quarter.
