Princess Yachts job cuts will 'ruin Christmas' for hundreds of workers, says trade union boss

  • Union official Mark Richards explains why the news of job cuts at Princess Yachts could be 'devastating' for hundreds of workers

The boss of one of Plymouth's biggest trade unions says the prospect of job cuts at Princess Yachts will "ruin Christmas" for hundreds of workers - and he fears the luxury boat builder could leave the city altogether if things don't improve.

Earlier this week Princess Yachts announced it is looking to axe 250 jobs - almost 10% of the workforce - with 500 staff at risk of redundancy.

Thursday 5 December marks the first day of consultation with workers and union officials.

Unite regional officer Mark Richards told ITV News West Country: "I had foreseen this happening sometime soon. The surprise was the timing of it. Three weeks before the Christmas break, to be given the news is bad timing. Disappointing, devastating for some. It will ruin their Christmas.

"It does make me worry for the long-term future. The whole idea is to get the business viable again. With a lack of boat sales, with a lack of workforce engagement - they are all worried - it's going to be a struggle.

"I do worry whether Princess Yachts will remain in Plymouth, I've got to be honest."

Princess Yachts, which was last year bought by American private equity firm KPS Capital Partners, has said it will consult with around 500 workers at risk of redundancy.

Unite official Mark Richards says he fears for the future of Princess Yachts in Plymouth. Credit: ITV News

"The first thing for us to do is to save as many jobs as possible," Mr Richards said.

"The second phase of that will be to try to maintain the terms and conditions and pay for the existing members, and work with the members to try to ensure that no more job losses are going to come."

The company says it plans to "streamline some processes to build a more flexible operation" around its "most experienced and skilled people."

CEO Will Green said: "We have not been immune to the global downturn that has been affecting the industry.

"Making any decisions that directly affect people’s jobs is always difficult but we have a responsibility to all staff to ensure we have a strong business and I am confident that these adjustments, together with the progress we have made on our turnaround plans this year, will underpin a much more robust business long-term and allow us to concentrate on what we do best – building the highest quality yachts in the market”.