55 jobs at risk at Princess Yachts after business review
2015-07-23By Philip Reynolds

More than 50 jobs are at risk following a business review at Princess.

The British boatbuilder, which employs over 2,100 staff, said it was restructuring after what it described as a “challenging year”.

Chris Gates, the managing director, said: “The past year has presented some significant challenges to many companies. We have successfully weathered these and are in good shape for the future.”

Princess's recent luxury yacht Anka pictured at the facilities for her May launch

Princess, which is owned by LVMH, the French luxury brand group, said that 55 jobs out of its 2,148-strong workforce could be affected at its Plymouth manufacturing facility. The boatbuilder, founded 50 years ago as Marine Projects (Plymouth), has five sites.

Mr Gates added: “Like all successful businesses, we have a responsibility to all our staff to remain both profitable and sustainable.

“The directors and I are working with our employees and employee representatives to ensure that the restructuring and redeployment process is conducted as speedily and constructively as possible.”

Related Articles

YACHTS FOR SALE

SAMBA

Princess |  35 m |  10 guests |  €14,500,000

66° ABOVE

Princess |  25.98 m |  8 guests |  €1,350,000

GIA SENA

Princess |  26 m |  9 guests |  €2,400,000

YACHTS FOR CHARTER

LOVE N LIFE

Princess |  29.11 m |   8 guests  Price from $49,900 p/w

LADY COPE

Princess |  30.12 m |   8 guests  Price from $47,000 p/w

SPONSORED LISTINGS

NYOTA

Couach Yachts |  37 m |  12 guests |  €3,500,000

QUITE ESSENTIAL

Heesen Yachts |  55 m |  12 guests |  €26,000,000

SOL

Azimut |  34.4 m |  12 guests |  $11,500,000