Mercury Marine Laying Off 300 Employees

Mercury Marine says the company is laying off about 300 employees. Here is a statement from the company:

“Mercury Marine has announced a reduction in workforce of close to 300 employees at its Fond du Lac global headquarters, which will take place now through July, as well as some adjustments to overall operations in Wisconsin, St. Cloud, Florida, and Juarez, Mexico.  These actions were taken due to softening of consumer demand in some of our markets mainly as a result of continued high interest rates and near-term reductions in boat production by Mercury’s boat builder partners.  Mercury Marine’s industry-leading products continue to gain market share around the world but at this time this is not sufficient to fully offset the overall market headwinds.

Mercury remains one of the largest employers in the Fox Valley, and in the state of Wisconsin, with more than 3,500 full-time employees in Fond du Lac, and accounts for $5B in annual economic impact to the Fond du Lac Community.”