Southport-based firearms manufacturer Sturm, Ruger & Co. disclosed Wednesday that it eliminated jobs earlier this year as part of a broader restructuring effort.
The company revealed the staffing cuts in its first-quarter earnings report, saying it carried out the “reduction-in-force” in February as part of a restructuring effort aimed at improving efficiency and supporting long-term growth.
The company said it recorded $2.5 million in severance and related expenses tied to the job cuts during the quarter.
Ruger did not disclose how many positions were eliminated or where affected employees were located.
Besides being headquartered in Connecticut, the company has operations in New Hampshire, Arizona, North Carolina, Kentucky and Missouri.
As of Feb. 9, 2026, the company said it employed approximately 1,780 full-time employees.
The restructuring disclosure came days after Ruger announced it reached a cooperation agreement with its largest shareholder, Beretta Holding, ending a dispute over ownership, board representation and company strategy.
Under that agreement, announced Monday, Beretta withdrew a proxy challenge and gained the right to nominate up to two independent directors to Ruger’s board after the company’s annual meeting, subject to governance requirements.
Ruger’s quarterly filing said the company also recently added three new directors while three others retired as part of what it described as a board refresh effort during a period of leadership transition. The filing also noted the appointment of a new chief financial officer in April and other ongoing organizational realignment efforts.
Ruger said it incurred about $3.2 million in legal, advisory and other expenses during the quarter tied to negotiations with Beretta and related matters.
CEO Todd Seyfert said both the restructuring and Beretta agreement were intended to strengthen Ruger’s long-term position while preserving its independence.
“The actions we took during the quarter – both in protecting the interests of shareholders and driving cost out of the organization – are already contributing to a more focused and efficient operating model,” Seyfert said in a statement.
Ruger reported first-quarter net sales of $141.4 million, up 4.1% from $135.7 million a year earlier. Diluted earnings fell to 1 cent per share from 46 cents per share in the year-ago quarter, largely due to restructuring and Beretta-related expenses.
