Thursday, February 28, 2008

Slow Economy Forces Job Cuts Winnebago

San Diego Union Tribune - United States
DES MOINES, Iowa – Motor home maker Winnebago Industries Inc. said Wednesday it will lay off more than 200 workers, or about 7 percent of its work force, as the recreation vehicle industry suffers a slowdown.

In a conference call with industry analysts to discuss the retirement of CEO Bruce Hertzke and promotion of President Bob Olson to chief executive, the company confirmed reports of job cuts, which could total between 200 and 225.

Olson said the company postponed the cuts as long as possible, but high fuel prices and low consumer confidence have curbed purchases of motor homes. For 2008, sales are expected to be flat.

He said Winnebago will cut staff until it can make motor homes ”but do it profitably,” adding, “I think it's going to be a difficult year as you look at some economic indicators.”
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