Brunswick to shutter plants, slash 1,000 jobs
In an effort to combat a prolonged downturn in the shrinking U.S. marine market, boat and marine engines manufacturer Brunswick Corp. (NYSE:BC) said this morning that it will shut down four plants in addition to the eight it has already closed as the firm seeks to reduce its fixed cost structure by $300 million.
The company also said that it will reduce its hourly and salaried work force at certain marine plants by 1,000 and could cut 1,000 more employees as the company continues to undergo cost cutting efforts.
Shares edged down 2.32% or $0.28 to $11.77 out of the gate. For detailed price information and recent news stories about Brunswick, click BC.
