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Oy!

The Biz

Oy!

Anoher bad sign for the industry – Nautor Swan is in the process of laying off 30% of their work force. From IBI:

Oy Nautor AB, the Finnish manufacturer of Swan sailing yachts, has revealed that 135 of its 430 employees may have to leave the company.

"We’re working at full capacity with mounting until the summer, but from then we have a weakening order situation. Because of this we plan a 30 per cent reduced production from this autumn," says managing director Tommy Boork.

"Up until now approximately 60 employees have left the company, been informed of lay offs or being pensioned. The order situation during the coming months will decide whether we’ll have to take any more measures than the 60 we’ve already prepared for."

Negotiations with the unions at Oy Nautor AB will continue during February. "We have a favourable position since we’re just building boats on custom orders," Boork adds. "That gives us time to plan our production even for a lower volume."