Trump Cited as Cause of Layoffs in the Firearms Industry
Job numbers for Donald Trump’s first two months in office came out today and they were way better than expected.
They are the best two consecutive months of jobs growth the country has seen since 2015. But not all industries are thriving; the firearms industry is starting to slump due to a second amendment supporting administration.
Since the election of Trump gun owners are feeling less of a need to stock pile ammunition and buy guns. Just like the media, the gun industry was expecting a Democratic administration and they were gearing up for the robust sales that happened under the Obama administration. Now since there is a firearms friendly administration in the Whitehouse, sales are dropping.
Proof of this can be seen in the news this past week. Two major players in the firearm industry announced layoffs in the last week. Remington Arms Company laid off 120 workers on Friday and was followed by Federal Cartridge who laid off 110 workers on Tuesday. Both companies cite a slump in firearm and ammunition sales as a reason for the layoffs.
The parent company of Federal Cartridge is Vista Outdoors and their CEO Mark DeYoung noted that “The challenging retail environment we experienced in our first and second quarters worsened in our third quarter following a slow hunting season and the national elections. This resulted in the need for increased promotional activity to support sales and maintain market share. We have also seen increased inventory in our retail and wholesale channels.”
When asked about the Remington layoffs U.S. Rep. Claudia Tenney, R—New Hartford had this to say. “Economic downturns in the firearms industry coupled with a decrease in sales have forced Remington to reduce staff to remain competitive. Failed economic and anti-Second Amendment policies in New York have continued to burden Remington’s Ilion facility, making it difficult for the plant to remain competitive.”
It is sad that 232 good people in the outdoors industry lost their jobs this week. Hopefully the job numbers will continue to grow and they will not be out of work very long. Until then our prayers go out to them.
To read the Star Tribune Article about Federal Cartridge CLICK HERE
To read The Utica Observer-Dispatch article on Remington CLICK HERE