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BREAKING: Colt Lays Off Custom Shop Director, Other Employees, Company Rumored Gutted

Discussion in 'Firearms' started by Scorpio, Mar 9, 2017.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    BREAKING: Colt Lays Off Custom Shop Director, Other Employees,
    Company Rumored Gutted

    Nathaniel F.

    [​IMG]

    What is happening at Colt? That’s the question on many people’s minds as news of layoffs in the company began to trickle out starting on Tuesday. Rumors of massive layoffs at Colt began with a post at Pistol-Forum by member “misanthropist”, who wrote:

    Sounds like a big mess down there and a whole lot of pink slips, including my favourite division, the custom shop.

    The extent of the layoffs are not yet known, but it has been confirmed that Brent Turchi, director of Colt Customer Service and the Colt Custom Shop, was let go. Brent posted the following at 1911forum.com:

    I am alive and well just no longer with Colt. I will continue to be a member of this forum and interact as I see appropriate. I will also tell the forum when and where I land. I have and will continue to enjoy this forum and its members. All thoughts are appreciated.
    Brent

    Whether this is a handful of layoffs or a gutting of the company is yet unknown, but according to misanthrope, things are not looking good. He posted that Colt Canada had reportedly been gutted, and the Colt Advanced Systems division and the Custom Shop virtually shut down entirely:

    Sorry guys I don’t think there’s any information I can link to.

    My understanding is that Advanced Systems is shut down entirely, as is the Custom Shop. Colt Canada will be stripped down to little more than the C8 production line and the extraneous people just had their jobs eliminated. The SWORD and MRR programs sound like they’re shelved. From the sounds of things, a lot of job losses.

    That’s what I am hearing, anyway.

    Colt has been trying to make its way back to normalcy, after bankruptcy rocked the company in 2015. The company debuted its newly reintroduced Cobra revolver at the 2017 SHOT Show, a firearm developed in part due to the efforts of the Custom Shop. The Custom Shop also helped debug the Defender compact 1911 variant.

    There is a lot of speculation that with the election and lack of contracts, Colt simply doesn’t have enough money to continue operating these divisions. Shutting them down, however, would burn a significant amount of goodwill that Colt has built over the years with its customer base, which might make recovery even harder for the Hartford company.

    We will keep our readers updated as things unfold.

    [​IMG]





    Nathaniel is a history enthusiast and firearms hobbyist whose primary interest lies in military small arms technological developments beginning with the smokeless powder era. In addition to contributing to The Firearm Blog, he runs 196,800 Revolutions Per Minute, a blog devoted to modern small arms design and theory. He is also the author of the original web serial Heartblood, which is being updated and edited regularly. He can be reached via email at [email protected]





    www.thefirearmblog.com

    http://www.silverbearcafe.com/private/03.17/colt.html
     
  2. JayDubya

    JayDubya Gold Chaser Platinum Bling

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    that's a damn shame...
     
  3. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    over-hyped but it will drive existing Colt prices up....:)

    truth is all through the gun industry times are slow necessitating layoffs in most gun producers.....meaning more competition for a smaller pie.......Colt however is at a disadvantage competitionwise.....as while they can layoff some workers they cant lay off ....DEBT/debt service (200m est) ...buildings..fixed overhead etc.....so this will put considerable pressure on a company trying to find their nich ongoing....i do think while the company might fold or be absorbed over time the name will endure as it is one of their most valuable assets.....
     
    searcher, oldgaranddad and Scorpio like this.
  4. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    yeah, it doesn't help that a non-gun guy bought the place some time ago,

    saw it as a manuf play and did not, nor can not appreciate the true meaning of the US gun owner and the name COLT

    ---------

    Colt’s unlikely rescuer materialized in the person of Donald Zilkha, scion of a wealthy Manhattan family of Iraqi immigrant bankers. Zilkha’s parents, Ezra and Cecile, hosted galas for the Metropolitan Opera. Ezra confessed in his 1999 memoir, From Baghdad to Boardrooms, that until Donald was 13, he was dressed each morning by a governess nicknamed “Nursie.” The Zilkhas were not “gun people.”

    By the 1990s, Donald, then in his 40s and working at the family investment firm Zilkha & Co., yearned to emerge from his father’s shadow. He did just that by buying Colt’s Manufacturing in 1994 for the fire sale price of $27 million, plus assumption of liabilities. The media suddenly cared what the younger Zilkha had to say. Colt, he told the Hartford Courant, “has been neglected for so long.” He would save it by means of austerity. Assuming the post of chairman, he consolidated from its original, onion dome-topped facility to the more efficient, if more prosaic, plant in West Hartford. At a company that employed 15,000 at its peak in World War II, Zilkha slashed the workforce by a third, to 600. He brought in as chief executive officer a former auto industry executive.

    Zilkha may not have known anything about guns, but he had ambitious plans to use Colt as a vehicle for rolling up other small-arms manufacturers. “This is an industry in dire need of consolidation,” he told the Wall Street Journal in 1997. He set his sights on FN Herstal, the company that nine years earlier had taken away Colt’s M16 contract with the Pentagon. Acquiring the Belgian company, he told the Journal, “would create a dominant firearms manufacturer worldwide.”

    https://www.bloomberg.com/news/arti...ers-owners-have-led-it-to-crisis-after-crisis
     
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  5. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    while this is encouraging ....it is a typical move for a company to overstate job creation/hiring projections to gain favors from citys (worked with companys for years doing this).....keep in mind this is local news to Hartford


    http://www.courant.com/business/hc-colts-expansion-20170324-story.html

    Gun Manufacturer Colt To Add 100 Jobs, Buy West Hartford Headquarters
    Al Cromwell of East Hampton, a Colt firearms assembler, works on the Colt 45 ACP model 1918, a civilian model. For the first time in several decades, a military-spec Colt 45-caliber pistol will be sold to the U.S. military as the sidearm for a select group of U.S. Marines.

    (STEPHEN DUNN / Hartford Courant)
    Stephen SingerContact Reporter
    Colt's Manufacturing Co., the gun maker that emerged from bankruptcy last year, is purchasing its West Hartford headquarters and manufacturing plant as part of a $23 million investment in Connecticut, Gov. Dannel P. Malloy said Friday.

    Colt's intends to keep its workforce of 600 workers and create 100 jobs over five years, Malloy said. The state Department of Economic and Community Development is providing a $10 million loan, with as much as $2 million forgiven if Colt's meets job milestones.

    ADVERTISING
    The manufacturing facility and the land have a price of $13 million.

    Colt's, which sells guns to the military, police and civilian customers, has designed and made manufactured firearms in Connecticut since 1847. The expansion ensures it keeps its headquarters in the state, Malloy said.

    Chief Executive Officer Dennis Veilleux did not return a call seeking information about the deal. In a statement, he said Colt is trying to transform the business.

    "Acquiring our headquarters and facility is a key part of this strategy," he said.

    [​IMG]
    Sergio Pereira adds a completed Colt rifle to a rack of newly assembled guns at the company headquarters in West Hartford. Each is then test fired, packaged, and sent to retailers.

    (MICHAEL McANDREWS / Hartford Courant)
    Malloy criticized the gun industry following the shooting deaths of 20 children and six educators in Newtown in December 2012. The industry opposed the governor's legislation tightening gun rules the following year.

    In a news release issued by his office Malloy said Colt's agreed to provide financial support for Project ChildSafe, a gun safety and education program of the National Shooting Sports Foundation.

    Colt's will sponsor seminars supporting Connecticut law enforcement firearms safety initiatives, include safety messaging in key marketing initiatives and add a safety section on the Colt website with safety videos, a focus on safe firearms handling, safety at the range and safe storage in the home.
     
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  6. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    Hello COLT CEO.
    REISSUE AND MANUFACTURE BLUED PYTHONS and sell them for double of what they are going for online.

    Damnation man, look at that used Python market.

    You have millions of sales in your backpocket that Python affectionatoes would be willing to pony up IN ADVANCE!, and you don't have a clue

    RIP
     
  7. southfork

    southfork Mother Lode Found Mother Lode

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    Have an old trooper 357 from the 7os myself.
     
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  8. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    problem is, they lost all of their talent,

    the modern version of it would be a manuf pos, the feel, etc of it would be whored out to accept robotized manufacturing principles.
     
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  9. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    Exactly.......they can not even provide service or parts for pythons anymore...
     

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