Hinckley hopes layoffs will be temporary - Trade Only Today

Hinckley hopes layoffs will be temporary

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Despite the success of its new Picnic Boat, The Hinckley Company announced layoffs at its Trenton, Maine, production facility due to the industry-wide slump in sales.

“While the launch of the new Picnic Boat has been the most successful new product launch in the company’s 80-year history, we have seen overall revenues continue to soften due to the general economic trend in the country,” CEO Jim McManus said in a statement.

Hinckley is laying off 25 production workers this week “due to the continued and deepening slowdown in the U.S. economy in general and the marine industry in particular,” the company said in the release. The company said it hopes the layoffs will be temporary.

“Hinckley recognizes that to keep the company, and its Maine-based operation, financially strong in the long term, it is necessary to take steps to manage this extraordinary downturn in the short term,” said McManus.

The boatbuilder continues to employ about 215 workers in Maine, the bulk of which are located at the Trenton plant. The company also operates a service yard and some production at its facility in Southwest Harbor.

This is the second round of layoffs at Hinckley in the last several months. Last fall, the company laid off 9 percent of its total work force, which numbered about 600 at the time. In addition to its production facilities in Maine, Hinckley operates sales and service yards in Rhode Island, New Jersey, Maryland, Georgia and Florida.

Its total work force is now at around 500.

Click here for the complete release.

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