Manitou to Lay Off 63 Employees, Forecasts 2020 Sales Down 30%

According to a report from KHL, Manitou seeks to eliminate 63 positions amid increasing negative economic impact from the COVID-19 pandemic. The report detailed how the company has been facing a downturn since mid-2019; coupled with the impact of COVID-19, Manitou is expecting a 30% decline year-over-year in sales in its financial year 2020.

The company said it, "anticipates a reduction of 63 indirect positions within Manitou BF. A period of voluntary leave would…

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