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Newport: firearms maker Sturm, Ruger & Co. is offering voluntary buyout packages to senior employees, changing its pay structure and selling off some property in New Hampshire to help cut costs.

Newport: Firearms maker Sturm, Ruger & Co. is offering voluntary buyout packages to senior employees, changing its pay structure and selling off some property in New Hampshire to help cut costs. The company announced it hopes to cut its payroll by $3 million in 2007 with buyout offers to 150 employees. The company also announced it would abandon its piece-work pay system in favor of hourly wages and is selling some of its 4,400 acres in Newport and part of a dollar art collection housed at its Newport plant. Sturm, Ruger is based in Southport, Conn., with facilities in Newport and Prescott, Ariz.
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Title Annotation:NEWS & ANALYSIS: in brief
Publication:New Hampshire Business Review
Date:Jan 5, 2007
Words:103
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