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Hatteras Yachts lays off approximately 80 workers amid uncertain economic environment
Hatteras Yachts has laid off approximately 80 workers this past week at its New Bern plant in North Carolina, USA.
Bass Pro, which acquired Hatteras Yachts through White River Marine Group in 2021, stated that the cutbacks were driven in part by the "current economic environment", but that every effort was being taken to "support [its] people" as the yard continues to navigate the uncertainty of the market.
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Dozens of employees laid off from Hatteras Yachts
Dozens of workers have been laid off from their jobs at Hatters Yachts in New Bern.
NewsChannel 12 was made aware of the layoffs Tuesday, Oct. 31, 2023.
Craven County Economic Development Director Jeff Wood confirmed 80 employees were laid off.
In a statement, Bass Pro - which owns White River Marine Group and acquired Hatteras Yachts in 2021 - stated the layoffs were "Due to the current economic conditions and the desire to invest in new boat designs."
Lieutenant Donald McInnis with the New Bern Police Department said multiple off-duty officers were on hand at Hatteras during the layoffs.
Lt. McInnis said no incidents took place.
Hatteras Yachts manufactured high-end luxury yachts at its Craven County plant.
At the time in 2021, White River Marine announced the addition of hundreds of new jobs and talked about expansion plans.
Wood said there are no plans that he knows of to shut down the plant altogether.
He said there are programs to help the laid off workers get new jobs through NC Works and Craven Community College.
Senator Jim Perry, of NC, also issued a statement saying “Hatteras has invested in our community and we are thrilled to have them in Eastern NC. They have an incredible product and they are a great company. This is a macro issue and demand for their product is impacted by these terrible interest rates and global uncertainty. No one is immune to the impact of poor economic policy decisions. I am afraid we will see more of this around our country in the future .”
This is a developing story. NewsChannel 12 will update you as it unfolds.
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Hatteras Yachts Layoffs Affect About 80
About 80 people lost their jobs this week in a series of Hatteras Yachts layoffs.
Hatteras Yachts laid off about 80 workers at their New Bern, North Carolina facility earlier this week. The layoffs, which were reported to have happened on Monday, were pinned to economic factors in the boating and yachting industry. In a statement, Bass Pro blamed ‘the current economic conditions and the desire to invest in new boat designs.” Bass Pro owns White River Marine Group and bought Hatteras in 2021. Sources at the scene said the layoffs came as a surprise to workers.
Craven County Economic Director Jeff Wood told the New Bern Sun Journal that even after the layoffs, more people work for Hatteras Yachts than did when White River bought it. He had been in touch with Hatteras, he said.
“They’re going to take this time to do some more investments, especially in the Hatteras brand, but they’re going to continue to invest in all three brands,” Wood told the newspaper. “They’re looking at long-term strategies.”
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Trick or Treat: Hatteras lays off 40-84 workers
Hatteras Yachts laid off as many as 84 workers on October 30, according to sources reached by New Bern Live.
The layoffs came as a surprise to the workers, one source said.
New Bern police verified that Hatteras Yachts hired off-duty officers to be present at its facility on October 30.
It apparently took many local leaders by surprise as well. Craven County Manager Jack Veit said that he had heard of the layoffs but could not confirm them, adding that he and Economic Development director Jeff Woods are in contact with corporate headquarters, trying to get exact information.
State Representative Steve Tyson said he had not yet heard the news, either.
Hatteras Yacht was purchased by White River Marine Group in May, 2021. The company received special incentives from Craven County and the state in a five year agreement that stated it would open a recreational boat facility hiring 500 workers by 2026.
According to a press release from Governor Roy Cooper’s office issue May 20, 2021, " Plans call for a major investment to modernize the Hatteras facility and establish a state-of-the-art coastal manufacturing center generating hundreds of new jobs. ”
According to zippea.com, Hatteras Yachts, founded as a luxury yacht manufacturer in 1959, had a total workforce of 1320 as of August, 2023.
The exact number of layoffs is still unknown, but sources cite numbers from 40 to 84.
Hatteras Yacht company was called for comment but the manufacturer was not answering phones. The parent company, White River Marine, had not yet returned emails for information as of 12 p.m.
This is a developing story and New Bern Live will update new information as it comes in.
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Hatteras Cabo Yachts in New Bern lays off 23
by Jason O. Boyd
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NEW BERN, Craven County - Hatteras Cabo Yachts in New Bern had a round of layoffs on Friday.
According to Joe Cacopardo, a spokesperson for the company, 23 employees were laid off. Cacopardo said the layoffs are a direct result of a recent overall decrease in the large motor yacht market. He added the company is holding an event in September to bring 100 high-potential customers to New Bern for the premier of the company's new 90 motor yacht. The company expects the current market softness to be temporary and hope to see growth going forward.
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lwrandall senior member
Hatteras has announce another but significant lay off at their main facility in New Bern, NC. 330 workers in this round. Hatteras has gone from a high of 1400 employees to about 300. Very sad... Hatteras Yachts cuts 330 workers Sue Book January 14, 2009 - 7:45PM Hatteras Yachts laid off more than half the workforce at its New Bern plant on Tuesday and Wednesday as part of a companywide restructuring plan to stay afloat. The company cut 330 workers, said Bill Naumann, Hatteras Yachts chairman, and is redesigning its business model "to make us more nimble." The cuts included employees in management and in production jobs. Naumann came back to Hatteras in November from retirement to chart a course for change. He announced the restructuring on Wednesday along with Hatteras Collection President and CEO James Meyer after all employees affected had been advised of their status. "This is a small town; these people are our friends and neighbors," Naumann said. "This decision was painful but it was not difficult to figure out what you have to do to survive. We tried to do this decisively, quickly, and with compassion." Meyer said that at all levels, employees "took it well. These are class people, gracious people. They are hoping to come back and we're hoping to bring them back." Naumann said, "The bottom line is that over the last year the marine industry of which Hatteras is a part has deteriorated somewhere between 60 to 70 percent. We did what we had to do. Our goal is to salvage this company and reposition it for growth." Hatteras once employed about 1,400 people in New Bern. It has made changes to its operation over the last year in an effort to cope, including adding new models and scaling back the workforce. It closed its Swansboro facility last January, eliminating 200 jobs, and rolled out a 56-foot motor yacht in March. It cut 325 jobs at the New Bern and Edenton plants in August, then in December sold the Albemarle Plant in Edenton with about 100 employees. The company was established in 1959 and was acquired by Brunswick Corporation in 2001. It continues to produce two brands in New Bern and in Adelanto, Calif. The brands, Cabot and Hatteras Yachts, are sport fishing and motor yachts between 50 and 100 feet long. "Unfortunately, making fewer boats will mean fewer workers required and consequently, we have reduced our New Bern work force accordingly," Meyer said. The 330 layoffs this week leave the New Bern plant with 295 to 300 employees. Meyer and Naumann said those who were cut were told individually or in small groups. Meyer said that "due to the size of our workforce now, these were all good employees. In time, we hope to hire every one of them back." Neumann said, "Everybody was given some kind of severance package. We did not let anybody go without something. They all knew it was coming." The packages varied depending on the job and the employees' longevity and were determined by seniority, skill set, and versatility. They included pay and continuation of benefits, some "for a long time," Naumann said. The marine industry is cyclical and has seen significant cutbacks at the New Bern Hatteras plant in 1995 and 2001, Naumann said. The kind of customers who buy Hatteras Yachts often "have the money but lose the will to spend the money in bad times," he said. Demand is expected to return with a return of consumer confidence, probably when the Dow Jones Industrial Average hits 10,000 and the Standard and Poor's hits 1200 as two key indicators. "The plan is to maintain a 32-hour work week and ... to try to retain as many skill sets as possible so we can quickly ramp up when that comes," Naumann said. An order of employee recall will depend on demand. Meyer said that "our business will come back as fast as it left us." He said that "when an industry falls off the cliff you can't take out cost fast enough" to avoid losing money in the short term but the restructuring is coming quickly enough to keep the company solvent for comeback.
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993RSR Senior Member
This type of contraction is not limited to Hatteras. Manufacturers of watches, shoes, aircraft, RV's and cork screws are laying off. In the past 50% of the goods consumed were purchased by people who qualified for "terms". Trading in the 20K SUV they owed $33K on and no money down financing $58K on a very nice $45K ride. Now that these terms (consumers) have been (rightfully so) excluded and the qualified consumers have taken a wait a see stance consuming is at a stand still. New boats, all, are suffering. Used boats, with few exceptions, are changing hands at very low values.
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Capt J Senior Member
It is very sad to hear that Hatteras is laying off that many people. I spent a week in New Bern, and there are NO other jobs to speak of in that town or for about an hour around it. Aside from a few mom and pop stores and a few hotels, Hatteras pretty much supported the entire local economy by employing so many people.
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Fishtigua Senior Member
A little ray of hope. There is a small yard in England that makes gaff cutters called Cornish Crabbers. They went into administration but a guy who bought one earlier in the year had so many compliments from fellow sailors he bought the company and restarted production. Light at the end of the tunnel?
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7 November 2023 • by Gabrielle Lazaridis. Hatteras Yachts has laid off approximately 80 workers this past week at its New Bern plant in North Carolina, USA. Bass Pro, which acquired Hatteras Yachts through White River Marine Group in 2021, stated that the cutbacks were driven in part by the "current economic environment", but that every ...
According to zippea.com, Hatteras Yachts, founded as a luxury yacht manufacturer in 1959, had a total workforce of 1320 as of August, 2023. The exact number of layoffs is still unknown, but sources cite numbers from 40 to 84. Hatteras Yacht company was called for comment but the manufacturer was not answering phones.
Dozens of workers have been laid off from their jobs at Hatters Yachts in New Bern. NewsChannel 12 was made aware of the layoffs Tuesday, Oct. 31, 2023. Craven County Economic Development Director ...
On Monday, October 30, about 80 workers were laid off from their jobs at Hatteras Yachts in New Bern. White River Marine Group, owned by Bass Pro Shops, acquired the Hatteras brand in 2021 and opened a manufacturing facility in Craven County, with a target of creating 500 jobs within the county, according to a press release by Governor Roy Cooper.
Nov 2, 2023 by Triton Staff. About 80 people lost their jobs this week in a series of Hatteras Yachts layoffs. Hatteras Yachts laid off about 80 workers at their New Bern, North Carolina facility earlier this week. The layoffs, which were reported to have happened on Monday, were pinned to economic factors in the boating and yachting industry.
The layoffs came as a surprise to the workers, one source said. ... Hatteras Yacht was purchased by White River Marine Group in May, 2021. ... .com, Hatteras Yachts, founded as a luxury yacht manufacturer in 1959, had a total workforce of 1320 as of August, 2023. This Hatteras yacht was introduced to the public in 2017. The company reportedly ...
Layoffs at Hatteras > Subscriber-only, By Neil Eaves 2023-11-03T15:07:00. Hatteras Yachts confirms around 80 staff have been let go. In response to requests for information from New Bern Live, the White River Marine Group, parent company of Hatteras Yachts, has verified that "approximately 80 positions" were laid off this week at the ...
Dozens of workers have been laid off from their jobs at Hatters Yachts in New Bern.Read more: https://wcti12.com/news/local/dozens-of-employees-laid-off-from...
The Hatteras Yachts manufacturing center is at 110 N Glenburnie Rd., New Bern.
The announcements that Hatteras Yachts laid off 105 workers and that its parent company has Hatteras and CABO Yachts on the market for sale was received locally with concern and Hatteras and CABO Yachts will continue operations | Local News | newbernsj.com
NEW BERN, Craven County - Hatteras Cabo Yachts in New Bern had a round of layoffs on Friday. According to Joe Cacopardo, a spokesperson for the company, 23 employees were laid off.
North Carolina-based Hatteras and Cabo Yachts, which parent company Brunswick Corp. placed up for sale in early January, laid off 25 percent of its hourly
NEW BERN, N.C. (WNCT) - Hatteras Cabo Yachts has confirmed 23 employees at their New Bern location have been laid off, citing an overall downturn in the large motor yacht market. Spokesman Joe ...
The brands, Cabot and Hatteras Yachts, are sport fishing and motor yachts between 50 and 100 feet long. "Unfortunately, making fewer boats will mean fewer workers required and consequently, we have reduced our New Bern work force accordingly," Meyer said. The 330 layoffs this week leave the New Bern plant with 295 to 300 employees.
Dozens of workers have been laid off from their jobs at Hatters Yachts in New Bern. Bilyana Garland TV has more:... Video. Home. Live. Reels. Shows. Explore. More. Home. Live. Reels. Shows. Explore. Dozens of employees laid off from Hatteras Yachts. Like. Comment. Share. 4 · 372 views ... Dozens of employees laid off from Hatteras Yachts.
Hatteras Yachts is laying off 105 workers at its plant in New Bern while its parent company, Brunswick Corp. of Lake Forest, Ill., has announced plans to sell it and CABO Yachts.
About 80 people lost their jobs this week in a series of Hatteras Yachts layoffs. Hatteras Yachts laid off about 80 workers at their New Bern, North Carolina facility earlier this week. The layoffs, which were reported to have happened on Monday, were pinned to economic factors in the boating and yachting industry. In a. Nov 2, 2023.
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Hatteras. Today, Hatteras, a yacht manufacturer has 383 yachts available for purchase on YachtWorld. This collection encompasses 23 newly built vessels as well as 360 pre-owned yachts, with all listings, handled by yacht brokers and boat dealerships, primarily concentrated in United States, Italy, Puerto Rico, Canada and France.
The oldest model listed is a classic boat built in 1961 and the newest model year of 2023. How much do Hatteras boats cost? Hatteras boats for sale on Boat Trader are available for a range of prices, valued from $23,015 on the moderate end all the way up to $5,487,010 for the more sophisticated yachts. Higher performance models now listed come ...
The global authority in superyachting. NEWSLETTERS; Yachts Home; The Superyacht Directory; Yacht Reports; Brokerage News; The largest yachts in the world; The Register; Yacht Advi
Hatteras Yachts Layoffs Affect About 80. About 80 people lost their jobs this week in a series of Hatteras Yachts layoffs. Hatteras Yachts laid off about 80 workers at their New B
About 80 people lost their jobs this week in a series of Hatteras Yachts layoffs. Hatteras Yachts laid off about 80 workers at their New Bern, North Carolina facility earlier this week. ... reported to have happened on Monday, were pinned to economic factors in the boating and yachting industry. In a. Nov 2, 2023. www.the-triton.com . $138M in ...
Like so many technology companies, Zoom issued layoffs in February 2023, axing 15% of jobs. ... a chef and a dragon boat captain offer advice on giving critical feedback. 14 Nov 2023. Work Culture.