Hatteras, Tracker and Pearson all cut jobs

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NEW BERN, N.C.; MIAMI, Okla.; WARREN, R.I. – The sluggish economy claimed more boating industry jobs this week as three boat manufacturers laid off employees, each citing the economic downturn as the reason.

Hatteras Yachts laid off 330 workers in North Carolina, Tracker Marine cut 55 jobs at an Oklahoma facility and Pearson Composites reported that, effective today, it will layoff approximately 50 employees.

The cuts at Hatteras comprise more than half the workforce at its New Bern, N.C. plant and were made on Tuesday and Wednesday as part of a companywide restructuring plan to stay afloat, the New Bern Sun Journal reported in a story Wednesday.

Bill Naumann, Hatteras Yachts chairman, told the newspaper that the company cut 330 workers and is redesigning its business model "to make us more nimble." The cuts included employees in management and production jobs. All of the employees were given severance packages.

"The bottom line is that over the last year the marine industry of which Hatteras is a part has deteriorated somewhere between 60 to 70 percent,” Naumann said. “We did what we had to do. Our goal is to salvage this company and reposition it for growth."

The 330 layoffs this week leave the New Bern plant with 295 to 300 employees, the Sun Journal reported.

Hatteras President and CEO James Meyer told the newspaper that "due to the size of our workforce now, these were all good employees. In time, we hope to hire every one of them back."

He went on to say that he believes business will come back as suddenly as it left and that the company is restructuring quickly enough to keep itself solvent for the turnaround.

"The plan is to maintain a 32-hour work week and ... to try to retain as many skill sets as possible so we can quickly ramp up when that comes," Naumann said. An order of employee recall will depend on demand.

Tracker makes cuts
Tracker Marine laid off 55 production employees at its Miami, Okla., plant, the Joplin Globe reported in a story this week.

Amy Wyrick, human resources director, said the company hopes to rehire as many of the workers as it can when the economic outlook improves and demand increases. Before the layoffs, the company employed 290 workers and operated two shifts, she told the newspaper. With the layoffs and slowing demand for boats, the company is consolidating to one shift.

Wyrick said 70 workers were laid off last July because of a seasonal adjustment but all of those jobs were brought back, and that the company hopes it will also be able to recall “as needed” those let go this week.

Last month, the plant was producing about 18 boats a day, Wyrick told the Globe. “By Jan. 7, the demand was down to 12,” she said. “We didn’t see any orders, because banks were holding onto money.”

Pearson reduces workforce
Pearson Composites, LLC, manufacturers of True North Yachts, Alerion Express Sailboats and PDQ Yachts said it “has temporarily cut back its workforce,” in a statement yesterday, and that effective today “approximately 50 employees will be laid off.”

“Unfortunately, Pearson is not immune from the challenges that the global economy is facing,” said Scott Bryant, vice president of sales and marketing. “We are fortunate, however, to have a backlog of boats to build. Like everyone else in the industry, new boat sales are down.”

In addition to the True North, Alerion Express and PDQ yachts that Pearson still has to build, the company said will continue to build and deliver boats under its contract with the United States Navy. Under that contract, Pearson will be completing many of the 44-foot Sail Training Crafts throughout 2009 for the U.S. Naval Academy.

The company also said all attempts will be made to assist in the relocation of the affected employees as well as coordination with local and state employment agencies.
 
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