Traeger Reduced Workforce by 14% Earnings Release Shows

After announcing cost cutting measures previously, Traeger released earnings for the quarter ended June 2022. While results were lower than they previously forecast, the markets were satisfied with their recovery plan as Traeger was up in trading. The earnings release also gave us more details about Traeger’s plans.

Traeger’s CEO Jeremy Andrus revealed on their earnings conference call that in July 14% of the workforce was cut. That was a result of their grill business being down 25% year over year. Traeger thought that the pandemic fueled growth would be sticky and expected growth in grills.