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Hatteras and Cabo announce more layoffs - Trade Only Today

Hatteras and Cabo announce more layoffs

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North Carolina-based Hatteras and Cabo Yachts, which parent company Brunswick Corp. placed up for sale in early January, laid off 25 percent of its hourly employees.

The reduction affects about 80 workers, according to the Sun Journal in New Bern. The other two, both announced in January, cut 105 workers and then 40 more.

President and CEO John Ward told the Sun Journal that the layoffs are “solely a result of adjusting to production demands due to the challenges in this market and is separate and apart from the ongoing negotiations to sell the company.”

He said the reduction in force, which included about 80 workers, was necessary “if we're going to continue to run and make decisions supportive of demand and our needs.”

Two employee meetings were held at the plant on Glenburnie Road Thursday morning, he said.

“We met with impacted employees first, then had an all-hands meeting with the balance of them,” Ward said.

He said talking with all employees is “in keeping the tradition of what we try to do. I’m very committed to communicating with our employees and keeping them apprised of what’s happening.”

Ward said some of those cut Thursday had been laid off before during the ups and downs of the company.

“I am very optimistic we will be able to call these people back to work after the sale and as business starts to come back,” he said.

Click here for the full report.

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