Federal Premium Lays Off More Than 100 Employees and Withdraws from State Funding Incentives
OutdoorHub Reporters 03.21.17
A post-election gun industry pitfall is in full effect and has most recently hit Federal Premium Ammunition.
The ammo company confirmed that roughly 110 employees from the company’s Anoka, Minnesota, plant have been laid off, citing the current downturn the gun and ammo industry.
On top of cutting 110 employees, the company also withdrew from $1.15 million in state grants and loans designated for a $33.9 million factory expansion.
CBS Minnesota reports a spokeswoman for Vista Outdoor, which is the parent company of Federal Premium, said the layoffs were “necessary as the company works to right size its inventory levels.”
Ever since Trump took office, a cool, calm customer base, no longer living in fear of restrictive gun laws, has forced several companies to downsize as a result. Colt and Remington both laid off a significant portion of their workforce already, and this only looks like the beginning.