Yacht builder cutting 297 staff

Sealine said it hoped the cuts would secure its long-term future

A Worcestershire yacht builder has announced it is axing 297 jobs.

Sealine said it would close its sites at Hartlebury, Worcestershire, and Burntwood, Staffordshire, leaving only its Kidderminster headquarters open.

The firm said the cuts were necessary as it anticipated lower demand in the leisure and marine market following the economic downturn.

The firm said office and production workers would lose their jobs and it was seeking voluntary redundancies.

The company currently employs more than 500 people.

'Long-term prospects'

Managing director Steve Coultate said: "It is with great regret that we are planning these changes, but they are necessary given the current leisure marine market conditions and economic environment.

"We need to take action to protect the long-term prospects of both our company and our international dealer network.

"The actions we are taking will leave us well positioned to respond to a market upturn, when it comes.

"We will seek to minimise the number of compulsory redundancies by inviting applications for voluntary redundancies and for all of those employees affected we will be providing a full consultation and counselling programme."