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Tuesday
Aug122014

15% Taylor Made Workforce Cuts, Adams Golf Plant Closes

Nice work by Tony Covey to report and analyze in depth the adidas Group closing the Adams Golf factory in Plano, Texas but not the brand, and laying off many in Carlsbad, with the final number coming in at a 15% cut in the global workforce.

The cuts come as the company deals with “profitability challenges” according to adidas Group CEO Herbert Hainer. What a stunning turn of events for a company that was riding high just 18 months ago before deciding to release three drivers in a calendar year. Sadly, much of this news will be attributed to the unhealthy state of golf or the long winter instead of to poor business decisions and rapid-fire product cycles.

Not mentioned in the Covey’s item and excellent analysis but widely known to the industry is the abandonment of Hack Golf, not even a near a one-year anniversary of the initiative’s announcement.

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Reader Comments (28)

The Tiger Boom is over
08.12.2014 | Unregistered Commentergolfboy2.0
I'm hoping Taylor Made can once again become the company it used to be many moons ago. To do so requires them to understand that they can't monopolize the industry, and that quality kicks the living shit out of quantity. They made horrible business decisions and the quality of their product line was compromised considerably.

But a serious change in leadership needs to happen. The nearsightedness has to change before anything else will change.
08.12.2014 | Unregistered CommenterPA PLAYA
"To do so requires them to understand that they can't monopolize the industry..."

PA, to "do so" would require them to revert to private company status -- highly unlikely. Even if a P/E firm took 'em private the end goal would be to flip 'em so the M.O. would not change.

My advice, buy Ping. (family owned)

Lastly, wasn't the "three drivers" that got 'em....it was the law of large numbers....gets 'em all in the end. (especially those making discretionary/luxury items)
08.12.2014 | Unregistered CommenterDTF
This is good. Too many new club models are released each year with little or no benefit over last months model, just gimmicks. Golf club manufacturers need to remember the sport is not about them.
08.12.2014 | Unregistered CommenterCraig
The rank and file employee gets clipped while the decisions makers just get moved to another division. Most of these clowns just keep 'falling up' the corporate ladder until the parachute kicks in. Given his track record, Mark King should be living on food stamps by now, but I'm sure he's passed the buck to some poor underling. "I was just the CEO, how could it be my fault"?
08.12.2014 | Unregistered CommenterP-Dog
If I was in the golf retail business I would HATE Taylor made. They sound like complete a holes. Callaway have seemed to think it was a good idea to act the same way.. Just horrible to throw so much product so quickly into the market and then discount 6 months later. Consumers spoke with their pocket books, The CEO should be fired.
08.12.2014 | Unregistered CommenterVwa3v60golferrr
"My advice, buy Ping. (family owned"

ABSOLUTELY!
08.12.2014 | Unregistered Commenterol Harv
A couple more observations...

-- no doubt in my mind the company will whiff the new "revised" sales guidance.
-- sales guidance will be "revised" downward at least two more times.
-- how Mark King has a job in any capacity at this firm is beyond me.
-- 2014 budgeted sales were so far off it's mind boggling....like hitting a 24-footer only 16-feet...full blown yip.
-- my sense is the rank and file PGA of America pro's are turning against TM...only exacerbates the pain TM is in for.
-- TM is just getting warmed up on the job cuts front...all employees should be spiffing up that resume.

These things get going the wrong way like this and the real "worst case" scenario turns out to be about triple what management expects. This is gonna get uuuuuugly......but should be interesting to watch.
08.12.2014 | Unregistered CommenterDTF
Save a few jobs. Drop DJ
08.12.2014 | Unregistered Commenterscall1968
DTF: Rank & File club pros were totally pissed...en masse....this past spring with TM's absurd decisions. Coupled with Dick's equally shortsighted decision (hey, can't wait to see this weeks' Sr. Tour ads!!!) the bubble broke...bigtime. King, et. al. should have created a Hack Golf category called UPPER MANAGEMENT IDEAS.
08.12.2014 | Unregistered Commentermcaron
The Acushnet policy works well. They bring out a new model every 2 years and there is no mass discounting of their old models. And they make great equipment.
08.13.2014 | Unregistered CommenterJFR
Always been a Mizuno player with Titleist woods. Only Adidas or Callaway product I have is an Odyssey.

I just look at TM's gimmick product and marketing output (white headed drivers, white headed drivers with stripes, Matt Black drivers with optional Uzi range finder, ROCKETBALLZIER!!, SLDR!!)...I mean....SLDR? A slider for me is a small burger that I can eat 4 or 5 of in an hour, preferably with jack and onions on the patty.

And Callaway...'X-HOT irons'? What next, 'Lazer Scorcher Boom Wedges'? Phil's Phunky Phree-Phirty Phreekwood?

So many products...no wonder so many of these guys are ADD or OCD. Makes my head hurt.
08.13.2014 | Unregistered CommenterCenter Cut
@p-Dog, DTF, center cut...+1!


The most depressing part is the closing of the Adams Plano facility. I'm a Titleist/muzuno/and roger Cleveland design affectionado...but I've thrown in the odd Adams fw or hybrid once in a while...very very innovative.

IMO TM purchased Adams just to get their hands on the speed slot tech as well as to be able to dictate to Barney Adams technical wizardry.


Agree above...if I had the same performance as Mark King in my line of work...I'd be homeless FFS.

I pine for the days of seeing "Pittsburg Persimmon" on the classic TM burners and my old standby...the 14deg Strong3 I wore out for almost 10yrs.
08.13.2014 | Unregistered CommenterJohnnnycz
17 more yard or 15% fewer jobs?
08.13.2014 | Unregistered CommenterPABoy
It's only going to get worse for them. I spend about £30k a year with Taylor Made but in common with most pros I know I will be doing absolutely zero next year. Times that across the globe and they are in the mire. Callaway are not quite as bad- not great but I agree with Del- Ping are the most honourable to deal with. As soon as you have shareholders a company's ethics go out the window. Taylor Made claimed they would have stability this year but so far this year I have been shown 8 different drivers!!!. The biggest worry is Adams- a great product and so far still operating properly but I wonder for how much longer? Taylor Made have only themselves to blame for the mess they are in.
08.13.2014 | Unregistered CommenterChico
Glad I bought my A4 Forged before they put their dirty fingers in the pie.
08.13.2014 | Unregistered CommenterD. maculata
Yes, buy PING! Very well made and well behaved clubs. Except for the wedges. Not sure what's going on there, but Vokey and Cleveland have that covered. Also, Allen Edmonds shoes. 2X the price, 10X the quality and durability. And what Center Cut said about Rocketballz and SLDR. The Marketing Moron who came up with those must be a member of that cohort that can only fail upwards. Must have been King his own self.
08.13.2014 | Unregistered CommenterKLG
Wait no more HACK golf?????
08.13.2014 | Unregistered CommenterViz
What Chico said: " As soon as you have shareholders a company's ethics go out the window."
08.13.2014 | Unregistered CommenterEd Desautels
https://twitter.com/JustinRose99/status/499564805641216000

Dear Mr TM Marketing Genius.

Every time you ask for a nice comment on social media, it gives the opportunity for people to tell a bad one.

Dear me.
08.13.2014 | Unregistered CommenterCenter Cut
Try Bridgestone. I got a bag of em.
08.13.2014 | Unregistered CommentervwA3v60golferrr.
" As soon as you have shareholders a company's ethics go out the window."

Welcome to ClubCorp. The world's leading management company.
08.13.2014 | Unregistered CommenterEkrub
PING
08.13.2014 | Unregistered CommenterRose
@chico, great insight, thanks for the post.

The junket journalists, swag hags, whatever you want to call them, must be flipping out.
08.13.2014 | Unregistered Commenterdbh
That is a bummer about the Plano plant. Thankfully, Plano is growing like a weed and will have that plant full in weeks.
08.13.2014 | Unregistered CommenterBrad Ford
This kind of story was brewing ever since Mark King left his post as CEO of TaylorMade Golf in April, and his Chief Marketing Office Bob Maggiore went with him. The timing of their departures aligns perfectly with the announcement of declining sales and the firing of over 500 PGA Professionals by Dick's Sporting Goods - TaylorMade's largest retail partner. While those two get to leave clean, Dick's has to eat tons of overstocked, overvalued TMAG product and blow them out at a loss. TMAG and Adams employees are out jobs and left with an uncertain future. Now we know that Hack Golf was just another worthless marketing ploy disguised as an initiative to grow the game.
08.13.2014 | Unregistered CommenterJohn Duval
"Taylor Made have only themselves to blame for the mess they are in. "

Which falls totally on the shoulders of Mark King. By the way, is Ted Bishop giving monthly or quarterly updates on the cutting edge ideas of his task force...which ironically includes none other than, Mr. King.

Not to hijack this thread but heard Barney Adams interviewed today. Love listening to that guy and his ideas. Would love to know what he thinks about Mark King?
08.13.2014 | Unregistered Commenterol Harv
"Now we know that Hack Golf was just another worthless marketing ploy disguised as an initiative to grow the game."

Now you know? You knew it all along. We all did.
08.13.2014 | Unregistered Commentermediaguru

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