Raymarine making cuts

[DIW]

Reported yesterday that Raymarine cutting 84 jobs , 16% of the work force.
Like for like sales fell 10.6% to £115.3 million in the 10 mnths to October 26.
The Company has axed dividend payouts until 2010.

 

[jfm]

I bought £21k of Raymrine this morning if that helps. Perhaps they'll tell the stock exchage on Monday that the dividend is restored

 

[Nautorius]

Given the climate, that seems a very sensible business decision. However given the employees need money I think that a shorter week may have helped.

Bad news short term, but good news long term if they can survive.

So givern there will now be sod all money spent on R&D are the current bunch of boat electronics going to last a lot longer without being outdated? I have to say the new stuff is mighty impressive already...

Paul

 

[Nick_H]

Shorter weeks don't work very well for extended periods, 'cos the good people leave, and the not so good stay, but are still demotivated. Better to have some control of who stays and who goes, then try and lift those who stay.

 

[Nautorius]

Good Point...it does not look like this downturn will be over quickly!

Paul /forums/images/graemlins/smile.gif

 

[poltergeist]

I hope they as a company weather the storm, both for the benefit of us as users, and the employees that are left.

 

[David_Jersey]

Earlier today was Googling (again) after the SmartPilot X-5 Wheel autopilot. Listed as being a 2008 model since at least May (and orders taken at the last Boat Show I believe) but still no sign of being retailed.

Of course leaves me thinking "do I want to be the Guinea Pig on something they are having difficulty in making work?" /forums/images/graemlins/frown.gif Still, I have 4/5 months to wait.......

 

[sailorman]

it may be that they havnt "pre-sold" enough to make it worth doing a production run