Mercury Marine has announced it is to cut more than 250 jobs at its Fond du Lac headquarters.
In a statement to local media, Mercury Marine has stated that the reduction in its workforce is taking place from now through July.
“These actions were taken due to softening of consumer demand in some of our markets,” Lee Gordon, vice president of corporate communications, said in the statement.
The company is also making adjustments at its other operations in Wisconsin, in St. Cloud, Fla., and in Juarez, Mexico.
Mercury Marine has blamed the softening demand on high interest rates and reduced production by boatbuilders that the company works with including BRP.
Since March, BRP has cut 298 jobs in Sturtevant, Wis., giving the workers pay in lieu of notice.
The statement continued: “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 employs more than 3,500 full-time workers at Fond du Lac, accounting for around $5 billion to the local economy.
Earlier in the year, the company laid off 100 other employees.
