{"id":40589,"date":"2025-11-05T02:16:39","date_gmt":"2025-11-05T02:16:39","guid":{"rendered":"https:\/\/news.godj.com\/news\/jobs-under-threat-at-plymouth-luxury-boat-builder-princess-yachts\/"},"modified":"2025-11-05T02:16:40","modified_gmt":"2025-11-05T02:16:40","slug":"jobs-under-threat-at-plymouth-luxury-boat-builder-princess-yachts","status":"publish","type":"post","link":"https:\/\/news.godj.com\/news\/jobs-under-threat-at-plymouth-luxury-boat-builder-princess-yachts\/","title":{"rendered":"Jobs under threat at Plymouth luxury boat builder Princess Yachts"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-9a00e533-0 eZyhnA\">Up to 40 jobs could be at risk at a luxury boat builder after lower than expected wholesale orders.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">Princess Yachts, which is based in Plymouth, Devon, said it was entering a consultation process that may lead to a &#8220;small number of redundancies&#8221;.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">Trade union Unite said up to 40 jobs including managerial positions were at risk, the <a target=\"_self\" href=\"https:\/\/www.bbc.com\/lnp\/ldrs\" class=\"sc-f9178328-0 iCaRzc\">Local Democracy Reporting Service<\/a> said.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">The firm, which blamed economic and market conditions for the drop in orders, has also cut 240 jobs in its production department over the past year.<\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-9a00e533-0 eZyhnA\">Princess Yachts said it was taking steps to ensure the company &#8220;remains strong, sustainable and resilient for the long-term future&#8221;, and the decision had not been taken lightly.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">The company had recently seen a softening in forward orders from its global distributor network, despite a rise in retail sales this year, it said.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">&#8220;This reflects wider economic and market conditions that continue to influence discretionary spending and business confidence,&#8221; it said.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">&#8220;In response, we are taking prudent steps to align our operations with current and projected demand.&#8221;<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">It said the potential cuts would represent less than 2% of its workforce of 2,889 and would affect salaried and management positions.<\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-9a00e533-0 eZyhnA\">The company made a \u00a323m loss in 2023 but made a profit of \u00a34.9m last year.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">Mark Richards, from trade union Unite, said the announcement was not a surprise as the company had to adjust its boatbuilding programme for 2026 and it was &#8220;aligning the costs&#8221;.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">He said he hoped some of the staff affected would be retained and return to the shop floor.<\/p>\n<p class=\"sc-9a00e533-0 eZyhnA\">&#8220;We are trying to reduce the number, we think there will be about 40 affected,&#8221; he said.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/c0l7x13lpgxo?at_medium=RSS&#038;at_campaign=rss\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Up to 40 jobs could be at risk at a luxury boat builder after lower than expected wholesale orders. Princess Yachts, which is based in Plymouth, Devon, said it was entering a consultation process that may lead to a &#8220;small number of redundancies&#8221;. Trade union Unite said up to 40 jobs including managerial positions were [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[1460,12347,771,10024,4105,1839,5448,12528],"class_list":["post-40589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies","tag-boat","tag-builder","tag-jobs","tag-luxury","tag-plymouth","tag-princess","tag-threat","tag-yachts"],"_links":{"self":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/40589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/comments?post=40589"}],"version-history":[{"count":1,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/40589\/revisions"}],"predecessor-version":[{"id":40591,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/40589\/revisions\/40591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media\/40590"}],"wp:attachment":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media?parent=40589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/categories?post=40589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/tags?post=40589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}