Miller Industries Lays Off Almost 20% Of Workforce
Ooltewah-based Miller Industries, the world’s largest maker of towing and recovery equipment, announced Thursday it will lay off around 150 workers across three facilities.
The reduction in workforce is part of “a comprehensive cost reduction plan designed to enhance operational efficiency and ensure the company’s long-term success,” a press release said.
The cuts are a response to market challenges like reduced sales and lower orders, the company said. It will offer financial and benefit assistance to affected employees.
“This was an incredibly difficult decision, and we understand the impact it will have on our employees and their families,” CEO William G. Miller II said in the release. “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.”
On an earnings call Aug. 7, Miller told investors in the publicly-traded company that its retail sales were down 20% compared to the previous quarter, with a 30% decrease in order intakes.
He pointed to risks from tariffs enacted by the Trump administration and interest rates and said the company would take “significant steps to improve our costs,” according to a transcript of the call.
“We attribute the decreased demand largely to lower consumer confidence and elevated cost of ownership, which takes into account interest rates, insurance costs and tariff-related price increases,” Miller told investors.
Miller Industries reported $1.26 billion in sales in 2024, a 9% increase over the year before. But Miller predicted a more challenging year ahead.
“Looking to 2025, there are significant macro uncertainties in the market, especially in the first half of the year, including tariffs, new legislation impacting our business and the rising costs of ownership for end users,” Miller said in a March press release about the company’s earnings. “However, I remain confident about our prospects moving forward.”
The company markets its products under brand names like Century, Vulcan, Chevron and Holmes. It maintains manufacturing facilities in Ooltewah, Greeneville, Tennessee, and Hermitage, Pennsylvania. It also has a plant in England and one in France.
It has nearly 800 full-time employees in the Chattanooga area, according to the Chattanooga Area Chamber of Commerce.
