UPDATE 1-Arctic Cat cuts 7 pct of workforce

Jan 23 (Reuters) - All-terrain vehicle and snowmobile maker Arctic Cat (ACAT.O) slashed about 100 jobs, or 7 percent of its workforce, as part of its cost-cutting efforts amid challenging economic conditions.

"We are rescaling the business to lower production capacity and operating costs, bringing them in line with reduced consumer demand," Arctic Cat Chief Executive Christopher Twomey said in a statement.

The jobcuts are effective immediately and primarily in Thief River Falls, Minnesota.

The company does not expect any material financial impact from the jobcuts. (Reporting by Dhanya Skariachan in Bangalore; Editing by Pratish Narayanan)