Brunswick Lays Off 1,200 Employees & Closes 4 Plants

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Brunswick Accelerates Resizing and Fixed-Cost Reduction Efforts; Will Record Non-Cash Impairment Charge in Third Quarter

LAKE FOREST, Ill., Oct. 9 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC) today announced it will accelerate its previously announced efforts to resize the company and to remove $300 million in fixed costs by the end of 2009. The company is taking the action in light of extraordinary developments within the global financial markets that are affecting the recreational marine industry.

As previously announced, Brunswick had planned to close four boat manufacturing facilities in early 2009, but will now accelerate that process. Three manufacturing facilities to be permanently closed are located in Pipestone, Minn., Roseburg, Ore., and Arlington, Wash. A fourth plant, in Navassa, N.C., will be mothballed.

The Billiard end of their business was also hit hard with Layoffs. It's NOT looking good for America Ladies & Gentlemen.