Mercury Marine announced it will lay off 300 employees at its Fond du Lac headquarters with layoffs occurring now through July.
A statement from the company said there would be additional adjustments to operations in Wisconsin, St. Cloud, Florida and Juarez, Mexico.
“These actions were taken due to softening of consumer demand in some of our markets mainly as a result of continued high interest rates and near-term reductions in boat production by Mercury’s boat builder partners. 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,” the unattributed statement said.
Mercury has more than 3,500 full-time employees in Fond du Lac, and accounts for $5 billion in annual economic impact in the Fond du Lac area. In the first quarter of 2024, Mercury Marine’s parent company, Brunswick Corp., reported consolidated net sales were down $378 million from the same period last year.
