Tiara layoffs total 110 employees
HOLLAND, Mich. – At a company meeting Wednesday, Tiara Yachts announced it will lay off 110 of the approximately 780 employees at its Holland, Mich.-based plant, The Grand Rapids Press reported in an article yesterday.
Company officials explained the layoffs by citing the “declining” recreational boating market, according to the newspaper.
Tiara Yachts, a division of S2 Yachts, had been focused on expansion in recent years, investing $14 million in a 300-square-foot expansion in 2005, making an additional $4-million investment in 2006 and adding another $1.4 million this past January, the newspaper reported. The parent company also manufactures boats in Fort Pierce, Fla. and Swansboro, N.C.
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