Fairline announce further job cuts

Fairline will cut a combined 275 jobs at their Oundle and Corby sites, effective from March 2009.

This brings the total number of jobs lost at the company to 365 following 90 redundancies in September.

The following is taken from a press release from Fairline:

Today, Fairline Boats Limited announced 275 redundancies affecting employees at their Oundle and Corby production and administration sites. The redundancies announced will take effect in March 2009.

The ongoing global financial and economic conditions continue to affect demand for luxury products across many industries and regrettably, Fairline’s products are not immune from these effects.

In September Fairline announced 90 redundancies and subsequently, short time working on a number of production lines. This latest announcement will reduce the current workforce to 1,000, but full time working will be restored on all production lines with effect from January 2009.

Derek Carter CEO of Fairline commented: “Whilst the timing of the announcement of these redundancies is deeply regrettable, we have commenced discussions with Union representatives to identify the redundant positions that will take effect in March. We will do all we can to minimise the anxiety of affected employees.”

With regards to 2009, Derek Carter further added: “The downturn in the market will pass and, as previously stated, we anticipate that towards the end of 2009, increased levels of activity are likely to materialise as the market begins to recover and as we bring new models in development to market.”