The Wichita Eagle is reporting that Big Dog Motorcycles laid off more than 20 employees Wednesday.
The latest round of cuts are the latest at one of the only remaining custom V-twin companies to come out of the custom cruiser boom since the Wichita, Kan.-based manufacturer laid off 49 employees in September 2008.
According to the Eagle, the company issued a statement blaming a "challenging economy and lack of retail financing and consumer discretionary spending" as the reason behind the cuts.
The layoffs in September left the company with slightly more than 100 employees, down from a peak of about 340 people in 2004.
It had similar, but smaller, layoffs in 2007 and in May. In June, Coleman trimmed the company's top executives from six to four.
Sales will be about $40 million this year, Coleman said, down from a peak of just more than $100 million in 2004.
The reason for the sales dropoff, Coleman told The Eagle, is that buyers have seen their wealth evaporate in the past year as home prices have fallen and credit dried up. Big Dog sells high-priced, custom heavy cruisers, with base prices between $24,000 and $36,000. That segment takes a hit in a bad economy.
Stay tuned to Dealernews for more information.