Hatteras Yachts Extends Summer Furlough
More bad news for Hatteras Yachts. I wrote about the company's worker layoffs earlier this year. Now the North Carolina boat builder announced an extended six-week furlough over the summer. The company once employed 1,400 workers and now employs around 300 and Bill Naumann, Hatteras Yachts chairman, told the New Bern Sun Journal that for around 90 of those employees it will be"an indefinite furlough." Naumann who came out of retirement last fall to steer the company again, says this is the worst thing he's seen from an economic standpoint. Boat sales have continued to fall and Genmar, the industry's second largest U.S. manufacturer, declared bankruptcy on Monday. Hatteras, which makes sport fishing and motor yachts between 50 and 100 feet long has been in business since 1959.