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Old 04-25-2008, 02:41 PM   #1
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It seems like each week brings more RV industry bleeding.

Fred

BREAKING NEWS
Monaco Coach Cutting 600 in Oregon, Indiana
RV Business
Friday, April 25, 2008

Monaco Coach Corp. announced today (April 25) that it is cutting 600 jobs, fairly evenly split between the company's home base in Oregon and its Indiana operations.

"With the decline in consumer confidence, oil prices and the financial market unrest, consumers are delaying the purchase of RVs," Craig Wanichek, director of investor relations, told RVBusiness. "We also want to size our business to come out of this a stronger company."

The Coburg, Ore.-based recreational vehicle builder said the layoffs represent about 12% of its work force and included administrative and production employees. In January, Monaco laid off 200 workers at its Wakarusa, Ind., facility.

Wanichek said that employees were informed Thursday and today of the layoff, which reduced the company's work force to around 4,400 people.

"This is a very difficult decision," Wanichek said. "It's not the only cost-saving measure we're putting in place. We're also increasing manufacturing efficiencies and trying to be more efficient with our supply chain."

The announcement comes on the heels of Wednesday's first-quarter earnings report that showed a net loss of $8.5 million. Monaco also projected a loss again for the current quarter.
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Old 04-25-2008, 02:41 PM   #2
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It seems like each week brings more RV industry bleeding.

Fred

BREAKING NEWS
Monaco Coach Cutting 600 in Oregon, Indiana
RV Business
Friday, April 25, 2008

Monaco Coach Corp. announced today (April 25) that it is cutting 600 jobs, fairly evenly split between the company's home base in Oregon and its Indiana operations.

"With the decline in consumer confidence, oil prices and the financial market unrest, consumers are delaying the purchase of RVs," Craig Wanichek, director of investor relations, told RVBusiness. "We also want to size our business to come out of this a stronger company."

The Coburg, Ore.-based recreational vehicle builder said the layoffs represent about 12% of its work force and included administrative and production employees. In January, Monaco laid off 200 workers at its Wakarusa, Ind., facility.

Wanichek said that employees were informed Thursday and today of the layoff, which reduced the company's work force to around 4,400 people.

"This is a very difficult decision," Wanichek said. "It's not the only cost-saving measure we're putting in place. We're also increasing manufacturing efficiencies and trying to be more efficient with our supply chain."

The announcement comes on the heels of Wednesday's first-quarter earnings report that showed a net loss of $8.5 million. Monaco also projected a loss again for the current quarter.
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Old 04-25-2008, 03:23 PM   #3
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It's a tough business to be in right now. Sorry for the layoffs but survival is now the name of the game.

dreamer.
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Old 04-25-2008, 06:57 PM   #4
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by dreamer:
It's a tough business to be in right now. Sorry for the layoffs but survival is now the name of the game.

dreamer. </div></BLOCKQUOTE>

You are so correct, with consumer confidence at the lowest level since 1980, no one wants to take on any long term purchases.

Fred
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Old 04-26-2008, 01:32 AM   #5
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Laying off this many people off is going to be tough on many families - we are sorry to hear this news.

One way to help the US economy might be to make it easier for Europeans to come and tour your great nation. At the moment the exchange rate is in favour of European currencies and this makes it more affordable to go and buy for example a motor home.

However - to set yourself up for this kind of tourism is not an easy task. In fact it is quite an obstacle course.

Rather than give you a lot of examples, go to our web site on www.winnebago.dk. Click into "Our RV setup" and on to "Practical information". This will give you an idea about what it takes, and trust us - it takes a lot of planning and a lot of patients.

We appreciate that the US must protect themselves against terrorism and also prevent illegal immigration, but it didn't necessarily have to be this difficult.


The Great Dane
(back in Denmark working until 1st of October 2008)
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Old 04-26-2008, 09:37 AM   #6
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We're trying to help!! just traded our 2008 dip for a 2009 camelot straight from the factory last week
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Old 04-26-2008, 06:19 PM   #7
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My heart goes out to all those affected by the cuts. I've worked for the same pharmaceutical company for 30 years. In the last 5 years everybody hates us and thinks our products should be free. As a result our company has eliminated 10,000 jobs and they plan to cut 2000 to 3000 more before they are done. It's really hard to watch friends get walked out the gate.
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Old 04-27-2008, 11:41 PM   #8
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Wow Venebright!

That's helping for sure!! Would love to hear the story about trading an 08 Dip for an 09 Camelot. Your 08 is so new, you don't even have any of MM's pixie dust - or is it fairy dust! Ask and you shall receive!

Gee
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Old 04-28-2008, 08:26 AM   #9
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by venebright:
We're trying to help!! just traded our 2008 dip for a 2009 camelot straight from the factory last week </div></BLOCKQUOTE>

Hey venebright,
I think a lot of us are wondering why you did this; I know I sure am.

It's going to be difficult for us to give up our Camelot with its pre-emission 400hp Cummins.
CC
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Old 04-28-2008, 08:58 AM   #10
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We also helped out Monaco some by trading our 2007 La Palma in for our 2008 Cayman. But Rick refuses to look at the 2009 model Knights - or any others for that matter. We hope the slow down is temporary and the Monaco employees survive.
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Old 04-28-2008, 12:51 PM   #11
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by venebright:
We're trying to help!! just traded our 2008 dip for a 2009 camelot straight from the factory last week </div></BLOCKQUOTE>


Yeah, I definitely feel like I'm helping their cause by trading in a 2007 Dynasty for a 2008 Signature....
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Old 04-28-2008, 01:05 PM   #12
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I just bought a 08 Cayman a few months ago so I did my part as well.
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Old 04-28-2008, 04:02 PM   #13
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I was just there two weeks ago at the Diamond Hill service center near Coburg Oregon and everything seemed to be business as usual. A lot of coaches being worked on, a good sized delivery line being picked up by new owners. Everything seemed rather normal. I do not know what is going on back east but in Oregon it seems to be business as usual.
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Old 04-28-2008, 04:21 PM   #14
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gasbag...they layed off 17 from the "Service Dept" ..I think a total of one team and other administrative staff...plus absorbing some of the Peoria Rd group. I also heard from a decent source that Peoria Rd is in a temporary closure status.
There were also other lay-offs in Oregon..but I don't know from what areas...
By the way... I don't remember you contacting the "Troll"

MM



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