Thompson lays off another 66, and furloughs 37
By BILL O'CONNOR
boconnorfosters.com
[email protected]
Friday, January 30, 2009 - Follow Fosters.com on
ROCHESTER? Sixty-six workers were laid off on Thursday at Thompson Center Arms ? one of the city's largest employers ? and another 37 workers were furloughed, making for a 103-position reduction in force at the Route 11 rifle manufacturer.
This latest round of staffing cuts follows an 80-position reduction at the plant in September and a 36-position reduction back in March, making this the third time the plant has downsized since Smith & Wesson Holding Corp., the parent company of the famous arms manufacturer, acquired Thompson Center Arms in January 2007.
"These cuts were largely economy-driven," said Smith & Wesson Vice President of Investor Relations Liz Sharp of the most recent round of layoffs Thursday evening. "At Thompson Center Arms we manufacture hunting rifles, which have a largely discretionary market. Specifically, we manufacture black powder rifles, the market for which is even more discretionary."
Sharp said fewer and fewer of these rifles are selling due to the current state of the nation's economy, and she could not hazard a guess as to whether that trend would reverse anytime soon.
The reduction in force accounted for almost 29 percent of Thompson Center Arms' work force, bringing the number of workers at the factory to roughly 250, almost half of what it was just under a year ago. According to Sharp, the cuts in staffing were specific to neither production line workers, nor office employees, but spanned all departments relatively equally.
Sharp said Smith & Wesson will be working closely with state agencies to help employees with the transition.
During the last round of layoffs at the plant, officials from the state Department of Employment Security in Somersworth were on hand to help former employees enroll into state programs to help them find new employment opportunities, and city Economic Development Manager Karen Pollard said the same would likely be true this time around.
"Our hearts go out to the families and the talented staff members who won't be working for awhile," Pollard said Thursday evening. "We understand the company (Thompson Center Arms) is very consumer oriented, and we hope the economy can turn so consumers start buying the company's product again and we can get these people back to work as soon as possible."
By BILL O'CONNOR
boconnorfosters.com
[email protected]
Friday, January 30, 2009 - Follow Fosters.com on
ROCHESTER? Sixty-six workers were laid off on Thursday at Thompson Center Arms ? one of the city's largest employers ? and another 37 workers were furloughed, making for a 103-position reduction in force at the Route 11 rifle manufacturer.
This latest round of staffing cuts follows an 80-position reduction at the plant in September and a 36-position reduction back in March, making this the third time the plant has downsized since Smith & Wesson Holding Corp., the parent company of the famous arms manufacturer, acquired Thompson Center Arms in January 2007.
"These cuts were largely economy-driven," said Smith & Wesson Vice President of Investor Relations Liz Sharp of the most recent round of layoffs Thursday evening. "At Thompson Center Arms we manufacture hunting rifles, which have a largely discretionary market. Specifically, we manufacture black powder rifles, the market for which is even more discretionary."
Sharp said fewer and fewer of these rifles are selling due to the current state of the nation's economy, and she could not hazard a guess as to whether that trend would reverse anytime soon.
The reduction in force accounted for almost 29 percent of Thompson Center Arms' work force, bringing the number of workers at the factory to roughly 250, almost half of what it was just under a year ago. According to Sharp, the cuts in staffing were specific to neither production line workers, nor office employees, but spanned all departments relatively equally.
Sharp said Smith & Wesson will be working closely with state agencies to help employees with the transition.
During the last round of layoffs at the plant, officials from the state Department of Employment Security in Somersworth were on hand to help former employees enroll into state programs to help them find new employment opportunities, and city Economic Development Manager Karen Pollard said the same would likely be true this time around.
"Our hearts go out to the families and the talented staff members who won't be working for awhile," Pollard said Thursday evening. "We understand the company (Thompson Center Arms) is very consumer oriented, and we hope the economy can turn so consumers start buying the company's product again and we can get these people back to work as soon as possible."
