Tiara Yachts Halts Production

by Deidre Woollard (RSS feed)
Feb 27th 2009 at 2:02PM

Luxury boat builder Tiara Yachts in Holland, Michigan becomes the latest yacht builder to lay off workers. The company, which makes sport fishing boats, eliminated 300 jobs last year. Now it is planning to lay off 300 of its 400 employees for at least a month. The month off will hopefully allow sales to catch up with production. The company had expanded rapidly over the past few years. In 2005, it invested $14 million in a massive facility expansion and at one point employed close to 800 workers. Tiara Yachts hopes to be able to call back the laid off workers once demand for their powerboats improves.

Gallery: Production Slowdowns