Winnebago Industries is laying off 33 workers from its Forest City plant next month. The company disclosed the layoffs on a state website where companies report layoffs. About a third of Winnebago’s 6,100 workers are employed at facilities in northern Iowa. The RV and boat manufacturer announced on Wednesday it had revenue of over$3 BILLION in its just concluded fiscal year, but profits were down 26 percent compared to the previous 12 months. Winnebago president and CEO Michael Happe says that reflects sluggish retail demand and operating inefficiencies within the company.
Happe says motorhome dealers are in de-stocking mode and the inventory of Winnebago products was down four-and-a-half percent in its last quarter.
In addition to the layoffs at Forest City facilities on November 22nd, Winnebago closed a plant in Charles City on September 1st and moved production of camper vans to its Lake Mills facility.
The company’s operating expenses increased during its last fiscal year, with a net income of 13 MILLION dollars. Happe says despite the weak retail market, the company is well-positioned.
Winnebago has seen growth in its marine division. In 2018, the company acquired powerboat maker Criss Craft and three years ago Winnebago bought Barletta, which manufactures pontoon boats.
