(200) Layoffs soon at Morgan (formerly Grumman Olson Industries)

[UpInArms]

http://www.sturgisjournal.com/main.asp?SectionID=2&SubSectionID=65&ArticleID=15663

A sagging business climate in the walk-in truck market is responsible for the pending layoffs of 200 employees at Morgan Olson Corp., formerly Grumman Olson Industries, in the next several weeks.

The announcement came Friday by Stuart McGowan, vice president and general manager.

McGowan, in a written press release to the news media, said, “Initial indications, based on sales forecasts last fall, were that truck sales would remain relatively


stable during 2004. However, despite the current efforts of the current work force in re-establishing this business and restoring customer confidence, some expected orders have not materialized and alternative product lines are currently being pursued.”

<snip>

In July 2003, one week after the formal takeover of Grumman Olson by the Morgan Corporation, the new management predicted 150 jobs would be added and the company would be operating in the black within the next few months.

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