KINGFISHER 9
Well-Known Member
.... have just announced that they're shedding 300 jobs.
Sunseeker ....
- Thread starter KINGFISHER 9
- Start date
Jurgen
Well-Known Member
Didn't realize they employed that many people to start with?
Suppose some redundancy was inevitable once the new owners got settled in
Suppose some redundancy was inevitable once the new owners got settled in
ari
Well-Known Member
Over 2,000 apparently.
Jurgen
Well-Known Member
In Poole? The site doesn't look big enough for that many people!
Didn't go onto any boats at SIBS or into their hospitality area but that and other global shows must cost a bit?
Richard Shead
Slipped Anchor
They are spread over several sites as well as Weymouth. See our report on IBI news.com.
Jurgen
Well-Known Member
Interest article, reassuring that Sunseeker want to remain in the UK but the cynic in me has a nagging feeling that Sunny may speak with forked tongue !
DougH
Well-Known Member
Nothing new, happens every year.
They are casual workers and the figure is normally around 500.
z1ppy
Well-Known Member
D
Deleted User YDKXO
Guest
What, they shed 300 casual 'management and administration' jobs every year? I think not. Anyway why would boatbuilders take on casual workers?
http://www.bbc.co.uk/news/uk-england-dorset-29664951
More like the Chinese owners looking for a return on their £320m
Jegs
Well-Known Member
pan
Well-Known Member
We have already seen a sharp drop off in sales at Fairline, so it's not unreasonable to assume this may be industry wide. As with any industry if the market weakens then there is likely to be some contraction in output, I have heard of some high discounting by Princess this year, maybe they were trying to maintain market share? Not surprised that the number crunchers are looking closely at the cost base.
targa31
Well-Known Member
I guess regardless of the uk economy improving, the global market (which given the size of the average sun seeker is key) is still struggling and could be heading down again.
ari
Well-Known Member
Odd that it doesn't get announced every year then, but it has this year...
Jurgen
Well-Known Member
The customer base for Sunseeker products hasn't been affected by the global markets.
The sort of people that can afford boats over £3'000'000 still have plenty of money in the bank. The people affected worse by any financial down turn are those of us that buy boats between £30'000 & £1'000'0000. This is largley due to lack of affordable finance.
How many financial companies now lend to the leisure marine industry? Lombard, HSBC won't touch you unless you want to borrow £500'000 upwards.
Sunseeker are cutting jobs to increase profits and will despite Sunny's claims eventually move production to a lower cost based country
diligaf
Well-Known Member
Lombard said:
Jurgen
Well-Known Member
Apart from Lombard who else is in the Marine finance market in the UK?
petem
Well-Known Member
The Chinese are funny buggers, they don't rate anything built in China and love all things European so IMHO opinion there's no way they they will move any production to China. I suspect the redundancies are down to slow sales, particularly overseas. Does anyone know how good or bad SIBS was for SS?
Whitelighter
Well-Known Member
The French lot based in Lymington - SGB I think.
Very competitive and loans from £25k
And Lombard will still lend less than 500k - but their rates are a bit eye watering
D
Deleted User YDKXO
Guest
I wouldn't be so sure. Ferretti has been owned by a Chinese co for several years and Ferretti boats are being assembled now in China for the Chinese market. Its a short step from that to exporting Chinese built Ferrettis back into Europe. Its happened in other industries. Don't forget also that China already has a history of grp boatbuilding (eg Nordhavn) so building Sunseekers shouldn't be beyond them. Yes I suspect that the redundancies are down to poor sales and a desire by the Chinese owner to start getting a return on his massive investment
rafiki_
Well-Known Member
I'm not convinced that it will be significantly cheaper to build in China. Labour costs on the east coast are not much less than European. Big savings will be on transport. How much to ship a 25+ metre boat to EU from China? £100k +? Taiwan costs are same as UK/EU. Local build really makes sense where you have penal import duties, like Brazil, where Snazi are now building.
