Princess Yachts jobs threat after orders drop

LUXURY boatbuilder Princess Yachts has warned over more potential job losses, including management roles, as wholesale boat orders decline.

- ALISON STEPHENSON Local Democracy Reporter

The Plymouth-headquartered firm confirmed it was “regrettably entering a consultation process that may result in a small number of redundancies’. It is understood around 40 positions are at risk.

Princess Yachts said implementing the measures now would ensure the business “remains strong, sustainable, and resilient for the long-term future’, whilst acknowledging the decision had not been taken lightly.

‘The manufacturer had recently experienced weakening in advance orders from its worldwide distributor network, despite a positive increase in retail sales this year, it said.

“This reflects wider economic and market conditions that continue to influence discretionary spending and business confidence.