Mercury Marine, a major employer in the Fox Valley area, has announced plans to cut approximately 300 jobs from its headquarters in Fond du Lac. The company stated that these job reductions will take place between now and July.
As a manufacturer of boat motors and other boating products, Mercury Marine currently employs over 3,500 full-time workers in Fond du Lac. The company is estimated to have an annual economic impact of around $5 billion on the community. In response to changing market conditions, Mercury Marine will be making adjustments to its operations in Wisconsin, Florida, and Mexico.
The company attributes the job cuts to a decrease in consumer demand in certain markets, which is believed to be a result of high interest rates and decreased boat production by their partners in the industry. Despite the challenges, Mercury Marine maintains that its products are growing in market share globally, but it is not enough to counter the overall market challenges at this time. The company remains committed to navigating these difficulties and continuing to provide industry-leading products.