Sunseeker feeling the pinch - 200 Redundancies

[Fire99]

I couldn't see this posted anywhere else but Sunseeker are still feeling the pinch with estimated 200 redundancies, 10% of the workforce.
Squeezy times for an already unstable British boat industry.

Sunseeker announces plans to axe up to 200 jobs

 

[Farmer Piles]

Tough on those losing their jobs.
By contrast Cockwells seem busier than ever, they are building tenders for superyacht owners. I would guess boats in the £500K yo £1m bracket.

 

[ari]

'Feeling the pinch', 'squeezy times', 'unstable British boat industry' ?

Or simply sensibly reacting to current market forces?

No one makes a fuss when they take on an extra 200 workers when times are good...

 

[Fire99]

Tough on those losing their jobs.
By contrast Cockwells seem busier than ever, they are building tenders for superyacht owners. I would guess boats in the £500K yo £1m bracket.

Very interesting (and good) news about Cockwells, though they employ a little under 6% of the workforce of Sunseeker, so they have developed a niche that Sunseeker don't fit in. Sunseeker turn out around 150 boats a year. The last figures for Cockwells was 3 to 4 projects per year, though I'm sure that has increased a fair bit since its increase in staff. Very different animals..

I see that Pendennis Shipyard took a majority stake in Cockwells back in September so it will be interesting to see how things develop going forward in this somewhat bespoke segment of the market.

 

[Fire99]

'Feeling the pinch', 'squeezy times', 'unstable British boat industry' ?

Or simply sensibly reacting to current market forces?

No one makes a fuss when they take on an extra 200 workers when times are good...

I make a fuss if 200 extra staff are taken on. But whether you want to hear it or not, the big three in the UK, Sunseeker, Fairline and Princess aren't making any money.. So this remains news.

 

[ari]

I make a fuss if 200 extra staff are taken on. But whether you want to hear it or not, the big three in the UK, Sunseeker, Fairline and Princess aren't making any money.. So this remains news.

I very much doubt you'd even know, much less make a fuss. People only like to spread doom and gloom.

And correct, Sunseeker, Princess and Sunseeker aren't making any money. If that's news to you then I'm afraid you are rather a long way behind the curve.

 

[dunedin]

Not just UK boat builders or power boats. Many European sailing yacht builders been hit by market uncertainty.
Halberg Rassy announced layoffs, and blamed a lot of uncertainty based on Trump tariffs impacting their American market - Trump tariffs: EU shipyards lose US market. HR cuts a third of jobs

 

[Fire99]

Not just UK boat builders or power boats. Many European sailing yacht builders been hit by market uncertainty.
Halberg Rassy announced layoffs, and blamed a lot of uncertainty based on Trump tariffs impacting their American market - Trump tariffs: EU shipyards lose US market. HR cuts a third of jobs

Interesting.. Thanks for that. Sorry to hear that about HR. I've never been on a HR and not been impressed (so far). I see that Bavaria has recently gone for a CEO change but hopefully that's part of a positive strategy forwards.. I know they've had fairly recent issues but I'm not 100% versed on where they are sitting at the moment..