Peavey Electronics Corporation is reorganizing its world manufacturing assets as part of a new globalization plan to ensure continued growth worldwide – a move that will result in a reduction of employees at one of its Meridian facilities.

    “Less than 100 employees will be affected, ” said Hartley Peavey, founder and CEO of Peavey Electronics Corporation, in reference to downsizing at the company’s plant located on A Street, also known as The Banana Building.     

    “We’re keeping certain parts of that factory open; certain parts of it we’re closing down,” he said.

    The last day for the plant’s employees is Nov. 25. Peavey said they will not be relocated to one of the company’s other facilities.

    According to a media release from the company’s Meridian headquarters, the reorganization includes focusing US-based manufacturing on Peavey’s premium products, and moving other manufacturing assets closer to its critical and emerging markets. The effort also involves modernization of production methods and a renewed focus on engineering, sales and marketing.

    “We operate in 136 countries. Our product mix has changed – instead of building great big speaker boxes, people are wanting little compact things,” Peavey said. “We just can’t ship big boxes around the world and be competitive. So we are downsizing our production of those kinds of things. Basically, most of the lower end of the product line has gone off shore, and the big stuff – the expensive stuff – we’re keeping in the United Sates.

    “In today’s global market, it is imperative that we operate as efficiently as possible,” Peavey continued. “This reorganization will allow us to meet the growing demands of our global markets while providing the capital for further reinvestment in our company.”

    “The times have changed, and so must we,” added Courtland Gray, Peavey’s chief operating officer. “Globalization of our production resources means we reach the end consumer more quickly and reduce unnecessary costs. The musical instrument and pro audio market is more competitive than ever, and all of our efforts must focus on compelling products of high quality that lead each market segment.”

    Peavey Electronics will observe its 50th anniversary in 2015, with more than 130 patents to its credit.

    The company’s high-technology brands will continue to be produced in the United States, the media release said. Product lines such as MediaMatrix, which created the market for digital audio distribution, processing and control systems, will expand production in the United States as installations increase worldwide. In addition, Peavey’s premium brands such as Composite Acoustics will continue production in its Meridian facilities.

    Founded in 1965, Peavey is one of the world’s largest manufacturers and suppliers of musical instruments and professional sound equipment.