Slumping Sales Translates To Job Reductions At Polaris Industries

Wed 1-27-2016 []

(Medina, Mn.)-- An unseasonably warm winter and weakening oil markets have combined for a poor fourth quarter for Polaris Industries, and company officials say it’s now triggering layoffs and job-reductions company wide.    

Kelly Basgen, Director of Strategic Communications for Polaris Industries, confirmed the company eliminated 100 salaried positions Monday. 50 of those came from the company’s Twin Cities operations. Basgen says some of that was through attrition.    

In addition, the company says additional openings won’t be filled and that they’ll curtail hiring of temp and contract workers.    

The job reductions come as Polaris Industries announces that net income for the fourth quarter of 2015 was $110.7 million, down 18 percent from the last quarter of 2014. Sales totaled $1.1 million, down 13 percent from the final quarter of 2014.    

Chairman and Chief Executive Officer Scott Wine says Polaris has taken a number of actions to position the company for better performance in 2016.    

There was no immediate word as to what this may mean for Polaris’ local operations in Spirit Lake and Milford.