Cabela’s cutting work force by 10 percent

Author:
Updated:
Original:

Cabela's Inc. is reducing its work force by approximately 10 percent at its corporate headquarters in Sidney, Neb. Cabela's is a leading specialty retailer of boating, fishing, hunting, camping and related outdoor merchandise.

The company expects approximately two-thirds of the reduction to come from not filling open positions and one-third of the reduction to come from job eliminations. Cabela’s is offering severance payments and outplacement assistance to affected employees.

The company did not release the exact number of workers affected by the layoffs.

"This work force reduction is an effort to reduce costs and improve efficiencies," said Dennis Highby, Cabela's president and CEO. "While this was a difficult and challenging decision, I believe it was necessary given the macroeconomic environment we are facing. We don't expect these changes to impact customer service."

The company’s stock was trading at $9.97 this morning. Its 52-week stock price ranged from $7.31, posted last Friday, to $22.55 in October 2007.

Related

G.G. Schmitt Names Business Unit Director

Ross Kennedy joins the Patrick Industries-owned marine hardware manufacturer.

Marine Connection Opens New Complex

The waterfront location in Aventura is the company’s seventh Florida retail and service facility.

Shockwave Unveils New Suspension Module

The S6 module has an integrated height adjustment and can be paired with any seat that has a common bolt pattern.

Industry Mourns Paul Fletcher

Fletcher, who founded Pleasurecraft Marine Engine Co. in 1975, was 77.

New Leadership at Roscioli Yachting Center

OneWater Marine has been named James Brewer managing director of the facility.

PressureMate Introduces On-Board Pressure Washer

The 12-volt system has a patent-pending plunger design that produces 600 psi of pressure.

ABYC Introduces Entry-Level Certification

The Marine Service Technology program now includes a year-end exam to help launch students into marine-industry careers.