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Arctic Cat cuts 60 jobs


by Elizabeth Baier, Minnesota Public Radio
May 29, 2009
St. Paul, Minn. — One of Minnesota's major snowmobile and ATV manufacturers has announced it will cut jobs as consumers continue to tighten their belts.

Thief River Falls-based Arctic Cat will eliminate 60 positions, or approximately 5 percent of its 1,200 employees, the company said in a statement.

Arctic Cat reported a net loss of $9.5 million for the 2009 fiscal year that ended on March 31. That's compared to a net loss of $3.3 million in fiscal 2008.

"Arctic Cat was profitable through the first nine months of fiscal 2009, due to increased snowmobile sales to dealers and distributors and lower operating expenses, but overall retail demand for recreational products remained weak in the fourth quarter as expected," said Arctic Cat CEO Christopher A. Twomey.

"In light of the difficult retail environment, we continued our plan to further reduce dealer inventories during the quarter, resulting in lower inventory levels across all product lines. However, this necessary action negatively impacted the company's revenue and profitability for the fourth quarter and full year," Twomey said.

In January, Arctic Cat cut 100 workers, trimmed employee benefits, cut production at its Thief River Falls plant and Arctic Cat executives took a five percent pay cut.
 

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Yeah that sucks but hopefully the cuts will allow them to hang in for awhile and they can stay in buisness. Can Am put there SxS on hold due to the economy so Im sure its being felt there to.
 

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Thats a shame about Can Am also. I know a couple of friends who were waiting for that utv,
 

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AC will be ok talked to some friends at the factory it's just A sign of the times. We hope for the sake of the guys and their family's this crap will be over for all of us sooner rather than later. My biz is off 70% and it sucks.

Jim
 

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AC will be ok talked to some friends at the factory it's just A sign of the times. We hope for the sake of the guys and their family's this crap will be over for all of us sooner rather than later. My biz is off 70% and it sucks.

Jim
Jim, what are you doing online today, aren't you down in Ensenada getting ready to run the Baja 500.....
Good luck in the race, hope you show the competition what you and AC can do....
 

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Leaving today (can't wait) not racing the 500 this year putting all in for the Best in the Desert championship. Going down to help Dragon Fire Racing with his Class 1 and UTV. Be back on Monday the 7th.

Jim
 

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Leaving today (can't wait) not racing the 500 this year putting all in for the Best in the Desert championship. Going down to help Dragon Fire Racing with his Class 1 and UTV. Be back on Monday the 7th.

Jim
Good Luck Dragon Fire Racing......
 
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