Page last updated at 13:49 GMT, Monday, 15 December 2008

More jobs go at luxury boat firm

The company had already cut 90 jobs in September

A luxury boat-builder is to axe a further 275 jobs in Northamptonshire.

The decision by Fairline Boats in Oundle and Weldon, near Corby, follows an announcement in September that 90 jobs were going.

The latest job losses will be in production and administration and the workers are set to go in March.

Chief executive Derek Carter said talks were taking place with union representatives to identify the redundant positions.

Hours cut

The firm said in a statement: "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."

Last month 365 employees of the firm began working a new two or three-day week instead of their previous hours.

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, the firm said.

Mr Carter added: "The downturn in the market will pass and... 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."

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