Friday, October 21, 2005

Monaco Coach will prune jobs, predicts a third-quarter loss and cites falling sales

Monaco Coach Corp. lowered its third-quarter revenue forecast and announced plans to cut 17 percent of its nonproduction work force. The Coburg, OR-based maker of motor coaches said Monday it plans to reduce administrative and indirect labor employees by about 225. At least 100 of those jobs would be engineering, warranty service, parts, accounting and human resource positions in Coburg. Monaco employs about 5,400 companywide.

The move comes as the company said it now expects third-quarter revenue of about $297 million, down from its July estimate of $325 million to $335 million. Wall Street had been looking for revenue of about $323.7 million. The company now predicts a third-quarter loss, including discontinued operations, of about $6 million, or 20 cents a share. Full Story...
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