WEST FARGO, N.D. (AP) -- North Dakota-based Titan Machinery is reducing its workforce by 14 percent and closing some stores after a drop in revenue.
The West Fargo-based dealer of agricultural and construction equipment projects its revenue in the fourth quarter of fiscal 2015 at $491 million, a drop of about 31 percent from the previous year.
Chairman and CEO David Meyer cites tough times in the industry for the cutbacks.
Titan has 92 dealerships in 11 U.S. states, as well as 16 dealerships in four European countries.
Employees in Bowdle, South Dakota, say that store was closed Monday afternoon. Employee Scott Weiszhaar says employees got no advance notice and even had everything ready for an open house scheduled for Tuesday.