Gibson Guitars Just Made Another Bad Call… Things Really Aren’t Looking Good

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Gibson Guitars Just Made Another Bad Call… Things Really Aren’t Looking Good | Society Of Rock Videos

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People Are Not Gonna Be Happy…

As you may already know, legendary guitar manufacture Gibson is in a world of trouble. They are $375 million in debt, and if that note isn’t paid by July 23, then they will owe an additional $145 million, which will leave them $520 million in debt. That’s over half-a-billion dollars! On top of all that, there is a noticeable decline in the actual quality of the instrument, which has ultimately led to the decline in sales, which in turn is a big reason for such debt. However, Gibson have taken steps to eliminate their debt, but only by making this controversial move…

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According to the Dayton Daily News, Gibson has laid off approximately 15 employees from its Custom Shop. According to CEO Henry Juszkiewicz, this is all “part of broad initiative throughout the company to prepare for our refinancing.”

Time will of course tell whether this move by Gibson will help improve things financially, and we still obviously have to wait to see the ‘broad initiative’ in its entirety, but as of right now, this seems like a pretty minimalistic move that just puts 15 people out of work…

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