Pearson Composites LLC of Warren, R.I., is laying off 50 employees in response to the economic downturn.
“Unfortunately, Pearson is not immune from the challenges that the global economy is facing,” said Scott Bryant, vice president of sales and marketing, in a statement. “We are fortunate, however, to have a backlog of boats to build. Like everyone else in the industry, new-boat sales are down.”
In addition to the True North, Alerion Express and PDQ yachts that Pearson still has to build, the company will continue to build and deliver boats under its contract with the U.S. Navy. Under that contract, Pearson will be completing many of the 44-foot STCs (Sail Training Craft) throughout 2009 for the Naval Academy.