Hatteras reduces work force as part of restructuring - Trade Only Today

Hatteras reduces work force as part of restructuring

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Hatteras Yachts laid off 330 employees in the last two days as part of a restructuring prompted by the continuing slump in marine sales.

“The restructuring involved a lot of long-term employees,” Hatteras Yachts chairman Bill Naumann told Soundings Trade Only this morning. “It was a painful thing to do.”

However, given the current economic climate, Naumann said it was necessary. He cited three key reasons for the restructuring: the significant deterioration in the marine industry; it enables Hatteras to reposition resources to areas where there are short-term opportunities; and it makes the organization more nimble and easier for customers to work with.

Naumann, who came out of retirement in November to head up the Brunswick Corp. subsidiary, said he plans to recall these employees “at the right time, when we start to come out of this thing.”

This is the third round of layoffs at Hatteras in the last 12 months. In August, Hatteras and Albemarle cut 325 positions from the New Bern and Edenton, N.C., plants. Last January, the company closed its plant in Swansboro, N.C., and cut 200 positions.

— Melanie Winters
m.winters@tradeonlytoday.com

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