Winnebago Industries Inc. said on Monday it will close one of its factories in Charles City, Iowa, where the company makes class C motor homes, eliminating an estimated of 270 jobs.
The manufacturer of recreational vehicles is taking action after a weak economy in the U.S., rising fuel prices and low consumer confidence lowered demand of its motor homes, the company said.
Today I had to tell our 270 CCMF employees they will no longer have a job because they are a casualty of the economy, commented Winnebago's Chief Executive Officer Bob Olson in a statement. Unfortunately, it is necessary so that we more closely align our capacity with market demand.
Shares of Winnebago dropped 3.95 percent to close at $14.33 on the New York Stock Exchange.