Briggs & Stratton Corp. said Thursday that it plans to cut about 460 jobs and stop selling gardening products through big retailers as demand for its goods shrinks.
The company, which is based in Milwaukee, is shifting some manufacturing work from an Alabama plant to another plant it has in China, or to contractors elsewhere in
English: Briggs & Stratton Flyer. (Photo credit: Wikipedia)
Southeast Asia, to save costs.
The company has been cutting back because of weaker demand for lawn and garden products in Europe and the U.S. due to the weak housing market of the past several years. The recent economic deterioration in Europe has further hurt demand. The cuts announced Thursday follow Briggs & Stratton’s January announcement that it would close a plant in Tennessee and shift the work to Georgia, eliminating about 690 jobs in the U.S. It also said it would close a plant in the Czech Republic, cutting 77 job there.
“While we appear poised for an improved lawn and garden market here in the U.S., our longer term projections of the lawn and garden market in the U.S. and in Europe do not return to the peaks that we saw in 2004 and 2005 for the foreseeable future,” Chairman, President and CEO Todd Teske said in a statement Thursday…
Source:
via Briggs & Stratton to cut jobs as demand shrinks – CBS News.
Job Market Monitor 
This is not good.
Posted by Money and Business Plan | April 26, 2012, 1:00 pm