MILLER INDUSTRIES ANNOUNCES WORKFORCE REDUCTION

Rhea-AI Summary

Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has announced a significant workforce reduction affecting approximately 150 positions across three manufacturing facilities. The decision comes as part of a comprehensive cost reduction plan aimed at enhancing operational efficiency.

The company cites ongoing market challenges, including reduced retail sales and lower order intake, as primary factors driving this decision. To support affected employees, Miller Industries will provide financial and benefit assistance, along with outplacement and career transition resources.

Positive

• Implementation of comprehensive cost reduction plan to enhance operational efficiency
• Proactive measures to strengthen competitive position
• Provision of transition support including financial assistance and career resources for affected employees

Negative

• Reduction of approximately 150 positions across three manufacturing facilities
• Declining retail sales and lower order intake indicating market weakness
• Potential impact on production capacity and operational capabilities

CHATTANOOGA, Tenn., Aug. 14, 2025 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") announced today that it will reduce its workforce by approximately 150 positions across three manufacturing facilities as part of a comprehensive cost reduction plan designed to enhance operational efficiency and ensure the Company's long-term success.

"This was an incredibly difficult decision, and we understand the impact it will have on our employees and their families," said William G. Miller II, CEO of the Company. "We are deeply grateful for the contributions of each individual who is leaving the Company. They have been instrumental in our success, and we wish them well in their future endeavors."

The Company is committed to supporting affected employees during this transition by offering financial and benefit assistance, as well as outplacement and career transition resources to help affected employees navigate these changes.

This workforce reduction reflects ongoing challenges in the market, including reduced retail sales and lower order intake. The Company believes these actions will strengthen the Company's competitive position as market conditions improve.

About Miller Industries

Miller Industries is The World's Largest Manufacturer of Towing and Recovery Equipment®, and markets its towing and recovery equipment under a number of well-recognized brands, including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface and Eagle.

Forward-Looking Statements

Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "may", "will", "should", "could", "continue", "future", "potential", "believe", "project", "plan", "intend", "seek", "estimate", "predict", "expect", "anticipate" and similar expressions, or the negative of such terms, or other comparable. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Such forward-looking statements are made based on our management's beliefs as well as assumptions made by, and information currently available to, our management. Our actual results may differ materially from the results anticipated in these forward-looking statements due to, among other things, those risks discussed in our filings with the Securities and Exchange Commission, including those risks discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, as supplemented in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, and June 30, 2025, which discussion is incorporated herein by this reference. Such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, the Company.

 

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SOURCE Miller Industries, Inc.

FAQ

How many employees will be affected by Miller Industries (MLR) workforce reduction in 2025?

Miller Industries will reduce its workforce by approximately 150 positions across three manufacturing facilities.

What is the reason for Miller Industries (MLR) layoffs in 2025?

The workforce reduction is due to ongoing market challenges, including reduced retail sales and lower order intake, as part of a comprehensive cost reduction plan to enhance operational efficiency.

What support is Miller Industries (MLR) providing to affected employees?

Miller Industries is offering financial and benefit assistance, as well as outplacement and career transition resources to help affected employees during the transition.

How will the workforce reduction affect Miller Industries' (MLR) operations?

The company believes these actions will strengthen its competitive position as market conditions improve, though it will impact operations across three manufacturing facilities.

What is Miller Industries' (MLR) current market position in the towing equipment industry?

Miller Industries is the world's largest manufacturer of towing and recovery equipment, marketing products under brands including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface, and Eagle.