MasterCraft initiates more layoffs

VONORE, Tenn. – MasterCraft Boat Co. laid off eight employees on Wednesday, leaving the company with 450 to 460 total employees, according to an article today on thedailytimes.com.

It reported that the boat builder’s production peaked at 19 boats per day, but is currently sitting at about 10 boats per day. MasterCraft cited not only the credit crisis and low consumer confidence, but trouble with floorplan financing for its production declines, according to the Web site.

"Dealers are having problems getting credit. We have dealers that want boats but they can't get commercial credit," MasterCraft public information officer Jason Boertje told the publication.

The company has been working to minimize layoffs through cost cutting in other areas and aggressive marketing efforts, Boertje suggested. Since early this past fall, MasterCraft has laid off more than 100 employees, according to according to an article today in The Daily Times.

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