RV maker cuts 300 jobs

Monaco Coach announced April 25 that the company laid off 300 employees.

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Story Published: Apr 25, 2008 at 11:08 AM PST

By KVAL Web Staff

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COBURG, Ore. -- Monaco Coach cut about 300 jobs April 25 following the fourth year of declining sales.

The recreational vehicle maker employed about 2,000 people at its Coburg plant prior to the layoffs.

"I have two children, I'm a single mom," said Laura Hall, a former Monaco employee. "Hopefully select temps will find me another job."

Craig Wanicheck, director of corporate communications, said low consumer confidence and high fuel prices drove the decision to cut jobs. The employees who remain retain their benefits and full-time employment, he said.

On April 23, the company detailed falling revenues over the previous year. In the first three months of 2007, the company did $332.2 million in revenues. During the same period in 2008, the company did $252.4 million in revenues.

"Plummeting consumer confidence, driving consumers to delay their purchases of new RVs, and a difficult consumer lending environment directly impacted Monaco Coach Corporation's first quarter results and sales industry-wide," said Kay Toolson, chairman and chief executive officer, in a press release.

The company also cut another 300 positions at a facility in Indiana

Monaco is a publically-traded company on the New York Stock Exchange under the ticker symbol MNC.

Monaco is the second Lane County RV maker to announces changes due to difficult economic times. Privately-owned Country Coach of Junction City announced a company-wide paycut of 5 percent. The company's chief executive agreed to a 25 percent pay decrease. Country Coach cut 100 jobs in early March.

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