Sea Ray to lay off 90 employees
The company says it is trimming production to reduce its supply of boats.
In addition to the 90 layoffs, Sea Ray president Rick Stone says, "We will reassign many employees whose jobs otherwise may have been eliminated and have them concentrate on vital strategic initiatives and projects."
As a result, the company will reduce production at each of its seven U.S. manufacturing plants and will reduce the number of positions at its two Knoxville manufacturing facilities by 90 positions, or less than three percent of its total work force.
In East Tennessee, Sea Ray employs about 1,900 people.
Stone said the affected employees would receive assistance in transitioning to other employment. He also said the company would take further steps to balance supply and demand as it continues to monitor the market.