CLEAR LAKE – Titan Machinery announced that it will close a store in Clear Lake, Iowa as part of a “headcount” reduction.
Titan, which comprises a network of full-service agricultural and construction equipment stores, announced the closings as it released its fourth quarter fiscal results. To better align its Construction and rental businesses in certain markets, Titan said it will reduce its construction related headcount by approximately 11.7% primarily through the consolidation and closing of 7 construction stores, including the one located in Clear Lake at 4005 7th Ave North. A website for that store location was already taken down by Saturday, April 12. All seven stores will cease operations by the end of April.
Overall, the realignment, combined with other staff reductions, will amount to a total of 4.5% of the Company’s total headcount.
Titan CEO David Meyer said, “While we are not satisfied with the recent overall performance of our Construction business, the changes we are making will enhance the overall performance of this segment.”
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I’m sorry for the people who worked here. It was a nice place to do business.