Lake Forest-based Brunswick Corporation says it will cut 1400 jobs. The boat manufacturer says the plan comes as a last resort in a poor economy.

As the recreational boating market sinks, manufacturer Brunswick needs to find a way to make ends meet. By early next year, the company plans to shut down four plants and temporarily close three others. Brunswick spokesman Dan Kubera says boats just aren’t selling in this economy.

KUBERA: Brunswick simply has more manufacturing capacity than it can currently use. And further, we believe that the capacity that remains after these actions will be adequate to meet anticipated demand.

Kubera says the cuts will save the company about $300 million. But the announcement sent the manufacturer’s stock to a 15-year low.