AM General's rebirth - South Bend Tribune
In December 2012, about 100 salaried employees lost their jobs as the company restructured the business to remain competitive in a period of declining defense spending. In February 2013, the company said it would extend the layoff of 400 workers at the Military Assembly Plant in Mishawaka through at least April because of unexpected delays in foreign military spending. AM General, which built the vehicle for VPG, already had laid off 117 workers in June 2012 while the factory was retooling, and they remained out of work while VPG restructured. Thanks to rejuvenated sales of the Humvee to foreign militaries, the refurbishment of thousands of Humvees for the National Guard, the takeover and rebirth of the MV-1 under the Mobility Ventures subsidiary and the addition of a multiyear contract... Despite the low period the company was facing in 2013, Hall always believed the company would turn around but he never believed it would be because of its long and rich history. “We can all go to the Studebaker Museum or go to the Smithsonian Institute and see companies that thought that way,” Hall, who joined AM General in January 2011 as its president and CEO, said in a recent interview with The Tribune. Source: www.southbendtribune.com
