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Article: 450 jobs to go at luxury yacht firm ; Up to 450 jobs are to go at Plymouth-based Princess Yachts International, it was announced last night.
- Article from:
- Western Morning News, The Plymouth (UK)
- Article date:
- March 6, 2009
- Author:
CopyrightCopyright 2009 Western Morning News, The Plymouth (UK). Provided by ProQuest LLC. (Hide copyright information)
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Up to 450 jobs are to go at Plymouth-based Princess Yachts
International, it was announced last night.
The decision follows a strategic review, which concluded that the
company would need to reduce its workforce to 2007 levels in order
to "stabilise", due to a fall in demand.
Princess Yachts managing director Chris Gates said: "Princess has
the strength to sustain a workforce of around 1,700, a figure
similar to that of 18 months ago but regrettably this will require a
reduction of up to 450 employees."
"It's a completely devastating blow," said Tim Jones, chairman
of the Devon and Cornwall Business Council. "Princess Yachts is a
flagship company that has put Plymouth on the world map. It ...