Sunseeker International eliminates 240 jobs - Trade Only Today

Sunseeker International eliminates 240 jobs

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British luxury yacht builder Sunseeker International has cut 240 jobs.

The company, based in Poole, Dorset, said the majority of the employees who are leaving had taken voluntary redundancy or were "natural" leavers, according to a BBC report.

In October, it said that as many as 300 jobs would go as part of a "strategic review" to "increase efficiency."

The company is famous for providing yachts for James Bond movies. In November Sunseeker named a new CFO, and earlier this month a new CEO.

The builder, which makes about 50 boats a year, came close to disaster years ago when it lost nearly $14 million after the banking crisis took a toll and the company broke the terms of its bank loan. After a refinancing agreement that was backed by the Dublin-based investment group FL Partners, the company returned to a profit, announcing that orders were already up for 2013.

In July 2013, Chinese property developer Dalian Wanda Group paid 320 million pounds (about $465.9 million at the time) for 92 percent of the company.

In a statement, Sunseeker said it had "advanced its formal consultation process" with staff and said further voluntary redundancies may be accepted to limit the need for compulsory ones, according to the BBC report.

"The skilled craftsmen on our shop floor remain key to the business, and as expected, the restructuring has had minimal impact on our direct boatbuilding activities," the company said.

"The overall outlook for the business remains positive and the board believes Sunseeker is now in the best shape possible to maintain its strong position at the forefront of the global leisure marine industry from our base in Poole."

Sunseeker produces a range of 40- to 155-foot luxury motoryachts, employing 2,100 people at seven sites in Dorset.

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