UK boat builders feel the stress

'The award-winning Princess V45.'    Princess Yachts    Click Here to view large photo In the UK, coinciding with a report in The Daily Mail that stated the Lloyds Banking Group is to sell off stakes in more than 60 businesses, including Sunseeker, Princess Yachts announced it would lay off 300 workers. The announcement came 22 May and is around 150 less than was anticipated by Princess back in March. The company said it had been able to retain staff via a series of measures including reducing work with sub-contractors and pressing ahead with developing larger vessels. 'We've been able to mitigate a lot of the job losses,' MD Chris Gates told the Plymouth Herald. 'It's a blow, but not as bad as it could have been, that's for sure.' The company, which quotes its largest boat as the 95MY, says it will be building bigger boats and is putting more people into development of that larger range. The day before announcing the redundancies, Princess Yachts opened an office in Grosvenor Street in London’s Mayfair to expand its new sales, brokerage and charter network. More at www.princess.co.uk by Media Services - 10:38 AM Mon 1 Jun 2009 GMT Click here for printer friendly version Click here to send us feedback or comments about this story. If you want to send this story to a friend, please use link below http://www.sail-world.com/indexs.cfm?nid=57378 Based on your current download speed Sail-World has delivered large images (660 pixels long side.)  If you would like to see only small images (300 pixels long side) click here .  For medium sized images (500 pixels long side) click here .  If you would prefer to see text only (without pictures) click here Click for further information on Yachting News Related News Stories: 03 Jun 2009  Leaders of world’s premier yacht clubs 'in the same boat' 06 May 2009  Oman Sail Welcomes New Arabian 100 Trimaran 26 Apr 2009  Indispensable Sunscreen Tips 25 Apr 2009  Please spare a penny (£1) for the Cowes fireworks 24 Apr 2009  Skin Cancer - the Reality of being a Fair-Skinned Sailor 23 Apr 2009  Sir Robin Knox-Johnston celebrates historic circumnavigation 20 Apr 2009  Vestas Sailrocket - Out of time and at the bitter end 18 Apr 2009  Curtain raised on the new l’Hydroptère.ch 14 Apr 2009  Time is running out for Vestas Sailrocket's record attempt 10 Apr 2009  Vestas Sailrocket record attempt - And the answer is ...

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