Yacht firm changes work practices

The firm hopes that changing its staff hours will help safeguard its future

Reduced work hours and flexi-time are being introduced at a luxury boat builder in Devon to help it ride out the global economic downturn.

Plymouth-based Princess Yachts hopes changes in work patterns combined with cutting hours for staff in some areas will help protect the firm's future.

It has agreed a 10% reduction in its working week with the 1,500 staff.

The changes, which come into force on 5 January, were agreed after staff were balloted following talks with unions.

'Softening market'

Princess Yachts International started as Marine Projects in Newport Street, Plymouth, making 20ft (6m) day boats. It now sells a range of 80 boats, topped by 95ft (28m) luxury cruisers.

Managing Director Chris Gates said: "We take our responsibility as one of the area's main employers very seriously and we hope that by adjusting production in this way we will be able to cope with a softening market without the need to reduce the team."

He added that the new work practices would "help increase production of larger craft, which have been affected less by the economic changes".

Mr Gates said he was optimistic that "these measures will help protect our position during this difficult period".

Dave Springbett of the Unite union said: "This isn't brilliant news, but the alternative was seeing hundreds of very skilled workers out of work.

"The idea of sharing a little pain right across the whole company is a far better one."