Subscribe by RSS

PRINCESS YACHTS FEEL THE CRUNCH

The recession is rearing its ugly head everywhere and now we’re beginning to see it’s effects on the marine industry. Princess Yachts has announced a reduction in its workforce of one fifth. This follows a reduction in hours at the company’s Stonehouse base on January 5th, which was blamed on the credit crunch. The company claimed then that demand for small boats had dropped off significantly, whereas the demand for larger vessels has been virtually unaffected.

In January Managing director Chris gates had this to say. “It is, of course, impossible to predict how long this market condition will continue, or indeed whether it will worsen before improving again” he added “But we are optimistic that these measures will help protect our position during this difficult period.”

Unfortunately it would appear that things have indeed got worse and Mr Gates said of the latest blow to the workforce 'We have concluded that, despite market conditions, 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.'

07-02-2012 - Bolton School Dickens World Record
04-02-2012 - Cargo Ship Hits Bridge
04-02-2012 - Snakes In The Everglades
01-02-2012 - February 2012 Competition
29-01-2012 - A Busy Year Ahead
25-01-2012 - What Is The Clipper Round The World
24-01-2012 - The Meaning Of Life
24-01-2012 - School Children Crossing Damaged Bridge
18-01-2012 - Conwy Visitor Guide
14-01-2012 - Cruise Ship Runs Aground

Harbour Guides Comments