MEDINA, Minn., (November 8, 2006) — Polaris Industries Inc. today announced targeted organizational changes as part of an overall plan to improve Polaris business over the next 12 to 15 months. These changes, designed to strengthen performance in the increasingly competitive all-terrain vehicle (ATV) category, allow Polaris to realign resources across the organization in order to lower the cost structure and pursue additional growth initiatives, making the company more competitive.
“This was not an easy decision; however, we’re facing a tougher external environment in the ATV, international and snowmobile markets and need to realign resources throughout the organization,” said Tom Tiller, CEO, Polaris Industries. “This is part of a three-pronged initiative designed to make Polaris more competitive over the next 12 to 15 months and we are confident that these changes will allow us to better invest resources into the competitive ATV business, adjacent markets and new product opportunities.”
The staff reductions include 53 salaried positions and 24 temporary, intern and contractor positions worldwide. This represents two percent of the total Polaris workforce of 3,500.