Ben Hogan Golf sparked talk just days into 2017 that the company had gone out of business, with multiple reports of mass layoffs suggesting an imminent end to the brand's revival.
However, Ben Hogan Golf isn't out of business. Instead, in response to rapidly spreading reports of slashing most of its staff, the company's CEO, Scott White, released a statement outlining these layoffs are part of a restructuring to keep the business going.
"While our organization does not look the same today as it did in 2016, we are confident that the changes we are making will make us a stronger and better company in the future," White said in a release pushed out in response to reports of the layoffs.
The company further said the changes were done "in an effort to become more nimble and profitable in the highly competitive golf equipment business."
The decision to cut staff -- many of which, the company claims, will be re-hired as contract employees -- was made to reduce costs. The company reportedly owes substantial money to a number of accounts, but Ben Hogan Golf hasn't declared bankruptcy and has not been foreclosed upon.
While Ben Hogan Golf isn't out of business, such a cost-cutting measure indicates serious problems for the two-year-old revival of the brand. Terry Koehler, former company CEO and owner of SCOR Golf, leased the Hogan company name from its owner Perry Ellis in 2014 but walked away from the chief executive role in August.
