WEST FARGO, N.D. -- Titan Machinery, which has its headquarters in West Fargo, is closing three of its stores and reducing its workforce by 14 percent in response to declining agricultural revenues and other pressures.
Titan store closings are in Britton and Bowdle, S.D., and Casper, Wyo., according to a statement released by the company.
"Consolidating stores and impacting people's lives is a very difficult decision that we do not take lightly," says David Meyer, CEO of Titan, a dealer of agricultural and construction equipment that was founded in 1980.
Meyer said the company has a responsibility "to stay ahead of the challenging business climate, operate efficiently and effectively, and position our company for long-term growth."
The company will now have 92 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado, Arizona and New Mexico.
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It also has 16 European dealerships.
Titan Machinery dealerships represent one or more of the CNH Industrial Brands, including Case IH, New Holland Agriculture, Case Construction, New Holland Construction and CNH Capital.
The Titan layoffs follow an announcement last month by CNH Industrial, the area's largest manufacturing concern, that it planned to lay off 80 full-time workers.
In January, agricultural equipment maker Deere said it would lay off 910 workers at plants in Iowa and Illinois. Deere cited declining demand for its products.
In announcing its layoffs, Titan cited an industry-wide decline in agricultural revenue, the slowly rebounding construction industry and "the challenging international climate."
The company declined to provide specifics on the number of employees affected by Titan's workforce reduction.
Earlier this month, the manager of the Dickinson, N.D., store said the company was building an expansion to that branch.
