Peavey electronics has always been a dominating force in the professional side of the music industry, and has stood the test of time as a privately-owned audio equipment manufacturer since the 1960s. To give you an idea of how big Peavey really is, they have nearly 2000 different designs, as well as over 130 patents. Even better? Their products are mostly produced in the company’s home state of Mississippi. These guys have made some OG, American-made amplifiers since the 60s. What’s not to love? Well, the manufacturing giant came under fire recently when it was reported that they would be shutting down their remaining 2 manufacturing plants, and moving their jobs to less expensive pastures.
The damning report came from a press release from a group of auctioneers, saying that they were auctioning off Peavey equipment:
"After more than 50 years operating as one of the largest audio equipment manufacturers in the world, Peavey Electronics is closing its speaker and amplifier manufacturing operations in Decatur and Meridian, Mississippi and will be auctioning off the equipment on May 19 and 20. The company is relocating some manufacturing operations that were traditionally done in Mississippi to outsourced operations in response to lower cost manufacturing overseas,”
With reports coming out every day about American companies moving jobs overseas, using unclear tax laws to save money, and just do all-around dickish things in the name of skimping and saving, it was pretty easy to believe a report like this. Luckily for them, however, the report turned out to be entirely false! According to another report released by The Clarion-Ledger, saying:
“Sources with knowledge of Peavey's operation say the press release was erroneous and that the auctioning of items is only an extension of previously announced changes in Mississippi facilities.”
“The company laid off 99 employees last fall, citing a desire to stay competitive with foreign manufacturers. Hartley Peavey, who founded the company in 1965, told the Meridian Star then that an unfavorable business climate in the state and the U.S. and an inability to find enough trained workers were problems.”
While it’s never good news to hear one of the largest manufacturers of audio equipment in the U.S. is having a bit of finical trouble, and has had to lay off a large amount of people (along with closing down their manufacturing plant in Decatur more than a year ago), it’s definitely a lot better than hearing that they’ll be shipping all their operations to somewhere else. So, with that, GO TEAM U.S.A.