BLACK CREEK, GA (WTOC) - Weapons manufacturer Daniel Defense announced on Tuesday a fourteen percent net reduction in workforce due to current market conditions.
"We have been watching the market closely and held off as long as possible before making the needed adjustments," said Marty Daniel, president and CEO of Daniel Defense, in a statement. "This restructuring will in no way have an effect on our five-year growth plan. We have made substantial investments in equipment and infrastructure, and are excited about our long-term position as a leader in the firearms industry."
The company's five-year, $20 million expansion plan that was announced in January is still in the works. Plans call for Daniel Defense's facility to expand from 47,000 square feet to more than 100,000 square feet.
"Daniel Defense is financially strong, and will continue to grow as we have the last ten years", Daniel said in a statement. "Despite having to reduce the workforce in certain areas, we are still recruiting highly-skilled engineers and for other positions throughout the company. This difficult decision allows us to remain competitive, while maintaining long-term growth."