Not greg b Posted November 29, 2023 Share Posted November 29, 2023 Looks like textron is going to hit it hard with cuts. Quote Link to comment Share on other sites More sharing options...
Boonbocker1 Posted November 29, 2023 Share Posted November 29, 2023 https://finance.yahoo.com/news/textron-cut-jobs-restructuring-plan-211821022.html Quote Link to comment Share on other sites More sharing options...
Not greg b Posted November 29, 2023 Author Share Posted November 29, 2023 Hopefully history doesn’t repeat itself Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 29, 2023 Share Posted November 29, 2023 what does this mean for the 2025 Snocross and Iron Dog sleds? Didn't @ZR6000RR say they were hiring? 1 Quote Link to comment Share on other sites More sharing options...
jonlafon1 Posted November 29, 2023 Share Posted November 29, 2023 Wont matter.. Cat goes if Catalyst goes. If they fail with this new model 24/25 (858) its over.. We will have 2 manufactures.. Its really that simple IMO 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 29, 2023 Share Posted November 29, 2023 43 minutes ago, jonlafon1 said: Wont matter.. Cat goes if Catalyst goes. If they fail with this new model 24/25 (858) its over.. We will have 2 manufactures.. Its really that simple IMO Argo... 2 Quote Link to comment Share on other sites More sharing options...
Premium Posted November 29, 2023 Share Posted November 29, 2023 The restructuring would trigger the re-evaluation of assets. There are several brands under the TSV umbrella, without seeing the financial statements at this point its impossible to say where exactly the impairment charges are occurring and what kind of impact it has on Arctic Cat specifically. 1 1 Quote Link to comment Share on other sites More sharing options...
Not greg b Posted November 29, 2023 Author Share Posted November 29, 2023 (edited) 18 minutes ago, Premium said: The restructuring would trigger the re-evaluation of assets. There are several brands under the TSV umbrella, without seeing the financial statements at this point its impossible to say where exactly the impairment charges are occurring and what kind of impact it has on Arctic Cat specifically. If you read the big report it singles out Arctic cat in it saying low sales and a propulsion system from that other company for tsv. Edited November 29, 2023 by Not greg b Quote Link to comment Share on other sites More sharing options...
krom Posted November 29, 2023 Share Posted November 29, 2023 (edited) 17 minutes ago, Premium said: The restructuring would trigger the re-evaluation of assets. There are several brands under the TSV umbrella, without seeing the financial statements at this point its impossible to say where exactly the impairment charges are occurring and what kind of impact it has on Arctic Cat specifically. TSV is arctic cat, tracker, cushman, jacobson, ez-go, textron motors at least. Kautex is a gas tank/fuel system systems co afik Edited November 29, 2023 by krom Quote Link to comment Share on other sites More sharing options...
AK440 Posted November 29, 2023 Share Posted November 29, 2023 None of this looks like very good news for Cat. Looks like sponsoring a few teams for the Iron Dog would’ve put them under in September. Quote Link to comment Share on other sites More sharing options...
krom Posted November 29, 2023 Share Posted November 29, 2023 (edited) On November 28, 2023, the Board of Directors of Textron Inc. approved a restructuring plan developed by management in connection with the Company’s annual operating plan process. The plan will reduce operating expenses through headcount reductions at the Industrial, Bell and Textron Systems segments. In the Industrial segment, the plan includes headcount reductions at Textron Specialized Vehicles, resulting from lower demand for certain of our powersports products which we anticipate will continue, and at Kautex, due to reduced demand for fuel systems from European automotive manufacturers. In both the Bell and Textron Systems segments, the plan includes targeted headcount reductions to improve the segments’ cost structures and realign their workforces as these segments transition from legacy production contracts to more development, engineering focused contracts. Collectively, these actions are expected to result in the reduction of approximately 725 positions across the impacted segments, representing 2% of our global workforce. The restructuring plan is also expected to result in impairment charges related to both fixed and intangible assets within the powersports product line at Textron Specialized Vehicles and fixed assets at Kautex, resulting from lower planned production levels due to the impact of lower demand, which we anticipate will continue. A lot of folks have been worried the catalyst was too little too late for a long time now Edited November 29, 2023 by krom 1 Quote Link to comment Share on other sites More sharing options...
Boonbocker1 Posted November 29, 2023 Share Posted November 29, 2023 (edited) This makes zero sense. Ramstad has been very vocal about how cat makes the best utility and sport sxs vehicles and ATV'S and how the catalyst exceeded customer orders so much so they couldn't build enough of them fast enough. Someone's full of shit here...hopefully Jim can come in and clarify how textrons financial team has it all wrong about this and can help them get the ship righted Edited November 29, 2023 by Boonbocker1 1 Quote Link to comment Share on other sites More sharing options...
Premium Posted November 29, 2023 Share Posted November 29, 2023 (edited) Yeah those statements are more damning. Although, I wonder if it's primarily the dirt side that's lagging? The Alterra 600 was introduced to relatively little fanfare and the XX has been out of the conversation for awhile now. I'd like to think the Catalyst represents a bright spot in the outlook, but who knows. Edited November 29, 2023 by Premium 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 29, 2023 Share Posted November 29, 2023 38 minutes ago, krom said: On November 28, 2023, the Board of Directors of Textron Inc. approved a restructuring plan developed by management in connection with the Company’s annual operating plan process. The plan will reduce operating expenses through headcount reductions at the Industrial, Bell and Textron Systems segments. In the Industrial segment, the plan includes headcount reductions at Textron Specialized Vehicles, resulting from lower demand for certain of our powersports products which we anticipate will continue, and at Kautex, due to reduced demand for fuel systems from European automotive manufacturers. In both the Bell and Textron Systems segments, the plan includes targeted headcount reductions to improve the segments’ cost structures and realign their workforces as these segments transition from legacy production contracts to more development, engineering focused contracts. Collectively, these actions are expected to result in the reduction of approximately 725 positions across the impacted segments, representing 2% of our global workforce. The restructuring plan is also expected to result in impairment charges related to both fixed and intangible assets within the powersports product line at Textron Specialized Vehicles and fixed assets at Kautex, resulting from lower planned production levels due to the impact of lower demand, which we anticipate will continue. A lot of folks have been worried the catalyst was too little too late for a long time now they blew the budget on a new spindle design... 1 1 Quote Link to comment Share on other sites More sharing options...
krom Posted November 29, 2023 Share Posted November 29, 2023 20 minutes ago, Premium said: Yeah those statements are more damning. Although, I wonder if it's primarily the dirt side that's lagging? The Alterra 600 was introduced to relatively little fanfare and the XX has been out of the conversation for awhile now. I'd like to think the Catalyst represents a bright spot in the outlook, but who knows. they gave up on the 2 biggest segments of the dirt market, sport SXS, and sport utility SXS. XX has been a dead man walking for a while now, they are just riding it out without investing a penny in it. The 600 is the only atv they build, and the prowler pro is the only sxs they build. 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 29, 2023 Share Posted November 29, 2023 one would think there's a helluva lot more money to be made with dirt than snow... 2 Quote Link to comment Share on other sites More sharing options...
Tripleflipper Posted November 29, 2023 Share Posted November 29, 2023 2 hours ago, Crnr2Crnr said: what does this mean for the 2025 Snocross and Iron Dog sleds? Didn't @ZR6000RR say they were hiring? What does it mean for the greatest sled ever produced that's drive belt will last forever, is far superior to the Poo 650 in back to back test rides although neither sled was pushed past 50 mph. Quote Link to comment Share on other sites More sharing options...
Tripleflipper Posted November 29, 2023 Share Posted November 29, 2023 Would not be shocked to see POO and DOO cut back as well. I can't imagine that based on the economy, interest rates, extremely high prices and poor snow conditions that their products are flying off the shelf. 5 Quote Link to comment Share on other sites More sharing options...
krom Posted November 29, 2023 Share Posted November 29, 2023 (edited) website shows 25 job openings in TRF Edited November 29, 2023 by krom 1 Quote Link to comment Share on other sites More sharing options...
airflite1 Posted November 29, 2023 Share Posted November 29, 2023 24 minutes ago, krom said: website shows 25 job openings in TRF They must of got caught with underage kids working on the line again. 1 Quote Link to comment Share on other sites More sharing options...
jonlafon1 Posted November 29, 2023 Share Posted November 29, 2023 15 minutes ago, airflite1 said: They must of got caught with underage kids working on the line again. Probably fired 25 for not putting bolts in correctly on top of the spindle? 1 2 Quote Link to comment Share on other sites More sharing options...
wrinkly balls Posted November 29, 2023 Share Posted November 29, 2023 Well there goes the R&D budget, looks like BNG for the next ten years!!!! 1 Quote Link to comment Share on other sites More sharing options...
airflite1 Posted November 29, 2023 Share Posted November 29, 2023 7 minutes ago, wrinkly balls said: Well there goes the R&D budget, looks like BNG for the next ten years!!!! Production cost Reduction should cover the cost of producing upgraded graphics. I bet one member would be all over a Blast, if they changed the name to RXC. It would be the best thing ever, even lighter than the current RXC. Quote Link to comment Share on other sites More sharing options...
ICG Posted November 29, 2023 Share Posted November 29, 2023 Maybe it's not just Arctic Cat, but an omen of more cuts + downsizing to come . . . . . 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted November 29, 2023 Share Posted November 29, 2023 2 hours ago, jonlafon1 said: Probably fired 25 for not putting bolts in correctly on top of the spindle? kn0T phUnnY!!! 1 hour ago, ICG said: Maybe it's not just Arctic Cat, but an omen of more cuts + downsizing to come . . . . . bring on the fucking recession already Quote Link to comment Share on other sites More sharing options...
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