New Zealand-based Fitzroy Yachts announced in mid-January that it plans to lay off much of its workforce after it completes its latest yacht, a 37.5m Dubois-designed sloop. “Like a large number of our fellow yacht builders, we have felt the effects of the 2008 global financial crisis and its impact on the new build order book,” the company said in a statement. “Following the imminent completion of our current build, the 37.5m Dubois performance sloop FY17, a substantial reduction of employees, albeit extremely regrettable, will not be avoidable.”
The award-winning builder of aluminum-hulled sailing yachts up to 50m said it is negotiating with the owner of that yacht for “a goodwill contribution to support the employees in the form of an incentive linked to a successful and timely completion of his yacht.”
About 120 people are expected to lose their jobs.
“All of the jobs could go; there’s no more work for them here,” Managing Director Rodney Martin told The New Zealand Herald. “We are talking about highly skilled people so I’m optimistic they will find new employment.”
He told The Herald the company plans to keep a small design and technology team in case things change.