More lay offs at T/C

[tombogan03884]

While the "black rifle market is booming, my former co workers at Thompson Center are not fairing so well.

Thompson lays off another 66, and furloughs 37

By BILL O'CONNOR
boconnorfosters.com
boconnor@fosters.com
Friday, January 30, 2009     -     Follow Fosters.com on

ROCHESTER— Sixty-six workers were laid off on Thursday at Thompson Center Arms — one of the city's largest employers — and another 37 workers were furloughed, making for a 103-position reduction in force at the Route 11 rifle manufacturer.

This latest round of staffing cuts follows an 80-position reduction at the plant in September and a 36-position reduction back in March, making this the third time the plant has downsized since Smith & Wesson Holding Corp., the parent company of the famous arms manufacturer, acquired Thompson Center Arms in January 2007.

"These cuts were largely economy-driven," said Smith & Wesson Vice President of Investor Relations Liz Sharp of the most recent round of layoffs Thursday evening. "At Thompson Center Arms we manufacture hunting rifles, which have a largely discretionary market. Specifically, we manufacture black powder rifles, the market for which is even more discretionary."

Sharp said fewer and fewer of these rifles are selling due to the current state of the nation's economy, and she could not hazard a guess as to whether that trend would reverse anytime soon.

The reduction in force accounted for almost 29 percent of Thompson Center Arms' work force, bringing the number of workers at the factory to roughly 250, almost half of what it was just under a year ago. According to Sharp, the cuts in staffing were specific to neither production line workers, nor office employees, but spanned all departments relatively equally.

Sharp said Smith & Wesson will be working closely with state agencies to help employees with the transition.

During the last round of layoffs at the plant, officials from the state Department of Employment Security in Somersworth were on hand to help former employees enroll into state programs to help them find new employment opportunities, and city Economic Development Manager Karen Pollard said the same would likely be true this time around.

"Our hearts go out to the families and the talented staff members who won't be working for awhile," Pollard said Thursday evening. "We understand the company (Thompson Center Arms) is very consumer oriented, and we hope the economy can turn so consumers start buying the company's product again and we can get these people back to work as soon as possible."

[shooter32]

DAMN hate to hear it!! Hope the employees aren't out of work to long.

[TAB]

if your main product line is hunting arms, your screwed right now.

[tombogan03884]

DAMN hate to hear it!! Hope the employees aren't out of work to long.

It doesn't look good, they may find jobs in the Portsmouth / Dover area but there are not that many machine shops in the area.  To make it worse many of T/C's employees started there with no experience when the local shoe shops went overseas, all they know about machining is the operations they worked on, and then its only on the machine they worked on, push this button pull this lever. Why ? Because that's how we do it here.
Not the sort of experience that is going to raise you above the pack in tough times 

if your main product line is hunting arms, your screwed right now.

10 ring 

[Solus]

they need to put bayonet lugs on the ends of all their barrels....

[Sponsor]

[MikeBjerum]

If the buyers would back off, take a deep breath, and evaluate what they are really interested in using companies like T/C would be in great shape.  However, too many people are panicing and buying stuff they do not understand and will hardly if ever use. 

I was a one of my favorite stores earlier this week and talked with one of my favorite salesmen.  They received a shipment of 25 ar's one day, and they were all gone within three days.  They had three guns in stock before the shipment and had one left when I was there.  Of the 25 that came in about half were spoken for in advance.  His feeling was that of the ones that just walked in and bought only one went to someone that really bought what he wanted and would use (he is using it for prairie dogs, and he bought a JP with 24" bull barrel, 1 in 7.75 twist, adjustable two stage trigger, target crown muzzle, and he has $1,200 in glass coming for it).  Most of the guns that were picked up, both spoken for and off the street, were people that just wanted a black rifle and didn't care what it was.

If we weather this storm forcast, or even if things get nasty, I expect lots of guns for sale in the coming years.  Most of these people that are "just buying" are going to dump them.  Unfortunately companies like T/C are going to suffer in the mean time.  I just hope that their aquisition by S&W will help to maintain a very nice system.

[wisconsin]

Not matter how or why the reason. This news always sucks

[Big Frank]

I don't see why S&W can't use those laid off T/C workers to build more EBRs.    It seems like a perfect solution to me.

[Pathfinder]

If the buyers would back off, take a deep breath, and evaluate what they are really interested in using companies like T/C would be in great shape.  However, too many people are panicing and buying stuff they do not understand and will hardly if ever use. 
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If we weather this storm forcast, or even if things get nasty, I expect lots of guns for sale in the coming years.  Most of these people that are "just buying" are going to dump them.  Unfortunately companies like T/C are going to suffer in the mean time.  I just hope that their aquisition by S&W will help to maintain a very nice system.

I was going to make your last point, think of the deals we can get  - assuming bho lets us.

[brosometal]

I was going to make your last point, think of the deals we can get  - assuming bho lets us.

As long as you register the new weapons with the combo to your safe and an included map to your house when you are not home... I think you see where I'm going with this.