Water-sports boatbuilder Tigé Boats of Abilene, Texas, laid off 25 workers, reducing its work force to 75.
The layoffs, made earlier this month, were the third such action in the last year, according to a report in the Abilene News Reporter. Tigé released 49 assembly line workers in March, another 14 in late summer, and the most recent 25 earlier this month.
"The recent layoffs and production slowdown are a direct reflection of the current economy, specifically the financial crisis and frozen credit situation," Kip Davis, Tigé Boats marketing director, told the newspaper.
Davis also told the newspaper that July-October retail sales were higher than normal.
The company did not respond to a call for comment from Trade Only.