Brunswick Corporation: A Risky Investment?

Brunswick Corporation is an American company that has been manufacturing and marketing a wide range of products since 1845. While the company has a large portfolio of brands and has been recognised as a leader in marine recreation, there are several reasons why it may be a bad investment. Brunswick's stock sank by -8% in 2023 due to lost production days stemming from a cybersecurity incident. The company has also received poor employee reviews, with reports of low pay, overwork, poor management, and a lack of support. In addition, there have been issues with payroll, with employees having to constantly remind management about their unpaid wages.

Poor management and communication

Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American company that manufactures and markets a wide variety of products. It has over 13,000 employees and operates in 24 countries. The company has been criticised for its poor management and communication.

Former employees have reported a lack of support from management, with one stating that there was "no support structure" and that employees were left to "wing it" on a daily basis. There have also been complaints about disorganised management, with some employees noting that management was often out of touch and unwilling to adapt to change. This has reportedly led to a high turnover rate, with some employees feeling overworked and underappreciated.

In addition, there have been issues with inconsistent hours and forced overtime, as well as problems with payroll. Some employees have also reported a lack of training and communication from management, with one reviewer stating that management "doesn't know how to handle a layoff".

The company has also been criticised for its handling of layoffs, with employees stating that there was no communication and that they were told multiple times that layoffs were not going to happen, only to be laid off shortly after. The company's expansion during the COVID-19 pandemic has also been criticised as a "bad idea".

Overall, the poor management and communication at Brunswick Corporation have led to low employee morale and a high turnover rate, which could potentially impact the company's performance and make it a risky investment.

Lack of support for employees

Brunswick Corporation has been accused of a lack of support for its employees. Former and current employees have reported that the company does not provide adequate training, leaving workers to "wing it". There is also a reported lack of communication from management, with one employee stating that they "literally can't get a hold of anyone who isn't a supervisor".

The company has also been criticised for its handling of layoffs, with employees stating that they were told there would be no layoffs, only to be laid off a week later. There are also reports of favouritism and a lack of equal opportunities for advancement, with some employees stating that they were led to believe they would be hired full-time, only to have their hopes "wasted".

In addition, some employees have reported issues with getting paid, with one stating that they had to "constantly remind a higher-up" about their paycheck. Others have reported mandatory overtime and a lack of appreciation from management, with one employee stating that management "does not acknowledge anyone but certain women".

Overall, while some employees report a positive work culture and good benefits, there are also reports of a lack of support and communication from management, as well as issues with pay and layoffs. These issues may contribute to a perception of Brunswick Corporation as a bad investment.

Unrealistic sales goals

Brunswick Corporation, an American company that manufactures and markets recreational products, has been criticised by its employees for its unrealistic sales goals. A review by a former employee on Indeed.com states that the company sets unrealistic sales goals and does not care about its customers. The review also mentions that the employee felt frustrated as they were made to work like a dog without proper compensation.

Another review by a current employee also mentions that the company sets unrealistic sales goals and does not care about its customers. The employee also mentions that the management is dysfunctional and that the company is by far the most dysfunctional corporation they have ever worked for.

A review by a former employee in Fort Wayne, Indiana, mentions that the management sets impossible goals and complains about production. The employee also mentions that there is mandatory overtime and a never-ending cycle of finger-pointing and passing the buck.

A review by a current employee in Fond du Lac, Wisconsin, mentions that the management at Brunswick Corporation does not know how to handle layoffs and that there is heavy favouritism within the company. The employee also mentions that there is no communication within the company and that the machines are not properly maintained, which leads to complaints when they break down.

Overall, it seems that Brunswick Corporation has a problem with setting unrealistic sales goals and not properly compensating its employees for their hard work. This has led to a high turnover rate and frustration among its employees.

Ineffective training and supervision

Brunswick Corporation has been criticised by its employees for its ineffective training and supervision. Several reviews on Indeed.com describe a lack of support for new hires, with one employee stating that "management does not [provide] any training". Others report that they were expected to train themselves using online resources, with one review stating that "the management [...] expect[s] trainers on the floor to train you and carry their own workload at the same time".

A culture of favouritism also appears to be prevalent within the company, with multiple reviews noting that preferential treatment is shown to certain employees. This further exacerbates the issue of poor training and supervision, as those who are out of favour are left without guidance. One review states that "management is disorganized", and another that "most of the staff is set in their ways and unwilling to allow change".

The company's disorganisation and lack of support for its employees has resulted in a high turnover rate, with one review noting that "in business, a 8 [percent] to 10 [percent] turn over rate is bad".

Cybersecurity issues

Brunswick Corporation, the global leader in marine recreation, suffered a significant financial blow due to a cybersecurity incident in 2023. The attack forced the company to halt operations in some locations, resulting in lost production days and a negative impact on their Q2 financial outlook. The CEO, Dave Foulkes, estimated the attack would cost the company between $60 and $70 million for the full year, with up to $85 million in losses in the second quarter alone.

The "IT security incident" impacted the company's systems and global facilities, requiring them to activate their response protocols. This included pausing operations in affected locations, engaging security experts, and coordinating with law enforcement agencies. The disruption was particularly significant in the Propulsion and Engine Parts & Accessories segments, as the proximity to the end of the quarter left limited time for recovery.

The cyberattack also had a major impact on Navico, a marine electronics company acquired by Brunswick in 2021. The downtime at Navico accounted for about $13 million of the total financial losses.

This incident highlights the growing trend of hackers and ransomware groups targeting manufacturing companies. Cybersecurity firm Dragos reported that out of 253 ransomware incidents tracked in Q2 2023, 177 involved companies in the manufacturing sector.

Brunswick Corporation's experience serves as a stark reminder of the devastating financial and operational consequences that can result from cybersecurity breaches. It underscores the critical importance of robust cybersecurity measures and incident response plans for businesses across all industries.

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