Hatteras, Albemarle will cut 325 jobs - Trade Only Today

Hatteras, Albemarle will cut 325 jobs

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Hatteras and Albemarle yachts and sportfishing boats are eliminating about 325 positions from the New Bern and Edenton, N.C., plants, effective immediately. The announcement was made Thursday to employees.

The reduction involves hourly and salaried employees.

“As with most other U.S. boat makers, these brands have been doing their best to confront a weak domestic marine industry,” said Keri Theophilus, president of The Hatteras Collection, in a statement.

“Unfortunately, these efforts have not totally mitigated the reduced sales activity being experienced in the U.S. marine marketplace, nor addressed our long-term need to fashion a smaller and more agile organization that can prosper and effectively compete not only in current market conditions, but in the market upswing when it occurs,” he added.

Hatteras and Albemarle also plan to reduce production for the 2009 model year.

“While we regret having to take these actions, we recognize the need for effective pipeline management to safeguard the financial health of both our brands and our dealer network,” Theophilus said. “This decision is no reflection upon our workforce, but the result of current economic realities and, just as importantly, our need to reflect market demand going forward with a leaner, more efficient organization.”

The Hatteras Collection, which includes Hatteras and Albemarle boats, is a unit of Brunswick Corp. The collection also includes Cabo Yachts.

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