BREAKING: Top Executives Leave Remington; Furlough Days Scheduled
In another possible sign of a continued softening firearms market, three top executives from Remington have left the company to pursue other opportunities. The three VPs represent some of the hardest hit subsections of the firearms industry – Firearms/Accessories, Ammunition and Sales divisions.
In addition, Remington is announcing the future use of employee furlough days. Although the affected departments have not yet been announced, the logical assumption would be that they would mirror those of the exiting VPs. The company is stating that it is selecting furloughs rather than a reduction in force (RIF) – layoffs.
TFB will be following this story and will provide updates as they become available.
- Senior Vice President/General Manager, Firearms and Accessories
- Senior Vice President, Ammunition
- Senior Vice President of Sales
In reaction to the industry’s soft market and a need to adjust inventory already in the distribution channels, we are scheduling furlough days. We are taking this approach versus a RIF to be positioned well for 2018.
– Jessica Kallam, Manager, Media Relations & Public Affairs, Remington Outdoor Company, Inc.
Remington Arms Company, LLC is an American manufacturer of firearms and ammunition in the United States. It was founded in 1816 by Eliphalet Remington in Ilion, New York, as E. Remington and Sons. Remington is America’s oldest gun maker and “It’s America’s oldest factory that still makes its original product-guns.” It is the largest U.S. producer of shotguns and rifles. Remington has also developed or adopted more cartridges than any other gun maker or ammunition manufacturer in the world. Additionally its products are distributed in over 60 foreign countries, making its distribution base and availability wider than those of its competitors.
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Savage should buy them out. The rem 700 needs to be updated so that a user doesn't need a gun smith to change calibers on top of QC improvement. Look up how you install savage barrels. That's one product line.
Somebody like Korth should take over Colt. Korth could pull off producing quality pythons.and other classic S&W revolvers.
There are too many quality items out there today at a reasonable price for the companies that have always been high end sellers to be able to keep pushing their high cost products. People will look for a good product but they will also buy a product that is cheaper if they can get it. Smith and Wesson sold a lot of their products early in the year with their rebate program. Everybody else is going to figure out that the market sets the price, not them. They can keep on trying to sell their items at high prices but they will continue to find out that they will not sell a lot of them.