In March, Briggs & Stratton announced plans to divest its turf product lines, which includes lawn and garden and turf care equipment sold under the Ferris, Billy Goat, Simplicity, Snapper, and Snapper Pro brands.
According to a report from the Milwaukee Journal Sentinel, as part of the company's moving of some production to New York from its Wauwatosa, Wis., facility, 208 employees will be laid off at the end of August.
In March, Briggs & Stratton announced plans to divest its turf product lines, which includes lawn and garden and turf care equipment sold under the Ferris, Billy Goat, Simplicity, Snapper and Snapper Pro brands.
According to a report from the Milwaukee Journal Sentinel, Briggs & Stratton plans to move some production from its Wauwatosa, Wis., facility to New York by the end of August. This includes production of its lawn tractor and residential zero-turn mower.
According to a recent filing with the Securities and Exchange Commission, Briggs & Stratton opted to not make a $6.7 million interest payment and instead the board of directors voted to pay executives and other key employees more than $5 million in cash retention awards
Briggs & Stratton’s $195 million of unsecured bonds mature in December, and if any of them remain outstanding on Sept. 15, the company’s 2024 revolving credit line would need to be repaid immediately.
The layoffs are related to the the Strategic Repositioning Plan that Briggs & Stratton announced in early March, and are not related to the coronavirus, according to a company spokesperson.
Five top executives at Briggs & Stratton Corp. will take a combined annualized $1 million cut to their base salaries in response to the Coronavirus pandemic.
The new battery-powered blower is a convenient, light-weight alternative that can throw snow up to 20-feet. The edger attachment is the sixth and newest addition to the Snapper XD string trimmer system.
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