Last year, Polaris cut its workforce by 10% in an effort to cut its costs by $250 million. But the cuts haven't come to an end, as Chief Executive Mike Speetzen said the company is aiming to cut a further $40 million in costs this year.
The brand's fourth-quarter results came out recently and showed that earnings dropped by 90% to $10.6 million, and sales dipped by 23% to $1.8 billion. Yamaha recently put an end to its snowmobile production and Textron, which owns Arctic Cat, did the same. The question is, will we see another major snowmobile manufacturer cease production within the next year?
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