Boat building factory cuts jobs

Luxury boat builder Fairline is to make 90 staff redundant

A luxury boat-builder is to axe 90 jobs in Northamptonshire due to the global economic downturn.

Fairline Boats in Oundle and Weldon near Corby is to cut staff to 1,360.

Chief executive Derek Carter said the decision was "regrettable" but was needed to secure "long-term sustainability" for the business.

During the Southampton Boat Show this month Fairline announced 35 orders for its Squadron 55 boat, which sells for about �750,000.

Mr Carter said: "The company has responded to the global economic uncertainty as 2009 looks like being a tough year."

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