Anoka, Minnesota-based Vista Outdoor, a designer, manufacturer, and marketer of outdoor sports and recreation products, has announced plans to scale back operations and reduce its workforce to compensate for a decline in consumer demand for recreational products. The plan includes reducing its real estate footprint, reducing operational expenses, and a reduction in force.
Several hundred employees will be laid off.
According to a company spokesperson, "The changes are being made in response to elevated retail inventory levels, rising interest rates, and inflation. The company also said the changes will help it prepare for the separation of its outdoor products and sporting products into two independent public companies, which is expected this year."
"The current Bell/Giro headquarters in Scotts Valley, California, will be closed effective September 1, 2023, with affected employees relocating to a revamped Innovation Center in the current Fox Headquarters in Irvine, California.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?