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Monaco Coach Lays off 225 Manufacturing Jobs

Uploaded by: employmentcrossing
Video Description:
Monaco Coach Corporation, one of the nation's leading manufacturers of recreational vehicles, is planning to lay off as many as 225 manufacturing jobs from their Lane County factory in Indiana. But according to the company... they consider this a temporary layoff because they also plan on re-hiring them in 6-8 weeks when production picks back up.
Last month, the company shut down three plants in Indiana as well as eliminated 1400 jobs. Prior to that in April, they also let go of 600 jobs.
The company pinpoints rising gas and oil prices as the reason behind the cuts. However they also have hope and believe that consumers will eventually return to the RV lifestyle.
On Wednesday, Monaco announced that in their second quarter earnings, they lost a whopping $9.7 million dollars.
With Monaco's stock falling 17 cents that day... at $2.50 per share.
The restructuring assignment will save them more than $12 million dollars per quarter.

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