MINNEAPOLIS (WCCO) – For the first time in its 32-year history, Summit Brewing Co. has reportedly laid off a significant amount of its staff, cutting more than 10 percent of its workforce.
The Minneapolis/St. Paul Business Journal reports that more than 10 of the company’s 100 employees were laid off. The cuts affected all departments and included directors.
CEO Mark Stutrud told the journal that the company is “adjusting to the market,” which he described as dynamic and confused.
He added that the rate of sales has slowed down locally because of there are just so many choices for beer drinkers at the bar and the liquor store.
Earlier this year, the company cut distribution to only states in the upper Midwest. Previously, the maker of “Saga IPA” had shipped as far as Pennsylvania and Nebraska.
Experts told the journal that the company’s struggles are similar to those faced by other large craft brewers, such as Bell’s, New Belgium and Sierra Nevada.
Summit Brewing opened in 1986, well before the recent craft beer boom.