Yacht firm re-employs 20 redundant workers
PRINCESS Yachts has begun re-employing workers as part of a plan to enter the super-yacht market as the economy improves.
The Stonehouse-based luxury boat firm has already brought back about 20 of the workers made redundant earlier this year, and intends to add a total of about 80 staff after linking with City College Plymouth to create a training scheme expected to start this year.
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PREPARED: Managing director Chris Gates
The company wants to increase its skilled workforce so it can produce boats of more than 32 metres and compete in the growing super-yacht market.
In order to do this it is now operating inside its new base in Devonport dockyard.
The firm will recruit workers to be employed as trainers, or to free up other staff for such a role.
Princess Yachts has also built a mock-up of its new 32m flagship, inside its 15-acre South Yard base.
The company said that, although it has been affected by the economic downturn, it is still investing and is committed to Plymouth.
Princess Yachts has been hit, like other firms, by the recession, and in May announced 261 redundancies. But in June, it said it would invest up to £20million on a factory at Devonport.
Managing director Chris Gates said the economy was still a problem and added: "We are a long way from seeing a strong return to where it was before the credit crunch."
But he stressed the firm was 'well prepared' to face problems and said: "We are in an extremely difficult market, but in a strong enough position to drastically increase our development expenditure, expanding our training operation and see some places open up for people we made redundant earlier in the year,"
For a full interview with Mr Gates, see Business & Jobs, Page 3
9 Comments
by Re-employed, Plymouth
Thursday, November 12 2009, 8:00AM
“I for one am thankful to Princess Yachts, I was made redundant and recently got my job back. Don't know where "dumped" got their figures from 450 people weren't sacked no one was, I wasn't sacked!!! I was one of 300 made redundant which included about 50 that went on their own accord. I am proud to work on a good product that it built solely in Plymouth - anyway thanks Boss for my job back in tricky times!!”
by johnno, pennycomequick
Wednesday, November 11 2009, 4:23PM
“Well done pincesess yachts , remember you when you started in a small shed in Newport Street . you have come a long way since”
by dumped, scrap heap
Wednesday, November 11 2009, 2:55PM
“so you sack 450 then quietly re employ a small number to keep unions quiet. thats after the mayfair office / south yard have started up. rubbish!......err like the boats”
by ed, laira
Wednesday, November 11 2009, 2:09PM
“just think of the money the government will pay for re-employing the unemployed”
by bloke, Plymouth
Wednesday, November 11 2009, 12:02PM
“Great news for the people being re-employed. Just in time for xmas!
But - the economy is picking up? More likely this is down to the pound being in the toilet on the money markets.”
by Twitcher, Plymouth
Wednesday, November 11 2009, 11:48AM
“Good News! People always say Princess gets back on its feet. Perhaps if there is development expenditure, you could offer more overtimeto the workforce in appreciation for sticking with it through the tough times and now only having a 4 day working week instead of 5.
you need to look after the staff you have already as there a lot of unahppy people working for Princess with lack of overtime and talks of reducing to a 3 day week.
They aren't exactly entitled to alot of annualleave nor do they have much paternity leave from your company.
I just think you need to show praise for those members of staff you already have and offer them more opportunites as well as re-employing those who sadly were made redundant.
a small appreciation goes a long way.
and as for the 32m flagship mock-up, lets hope its an improvement on the current designs. you spend too much time doing a rush job to get things out there for potential buyers and less time actually perfecting each yacht/sports cruiser. You may find more positive feedback if you listened to your work force more often to their concerns, after all they are the ones actually doing the grafting”
by Kristian, Plymouth
Wednesday, November 11 2009, 11:29AM
“Congratulations guys.... good luck with the business!
Um.... can I borrow a 22 footer for the afternoon....?”
by Steve, Plymouth
Wednesday, November 11 2009, 11:02AM
“Fantastic news. Brilliant.
I wish all of you the very best, with year on year profit.”
by Barrie, Plymouth
Wednesday, November 11 2009, 9:16AM
“As a retired ex-employee of Princess it's nice to see the company is on the up again. i hope they can re-employ even more people as the economy improves. Best of luck Princess.”