Jobs Set to be Cut by Vosper

Thursday, January 11, 2007
According to The News, Portchester-based VT Halmatic has told workers that up to 130 of the 270 workforce could be made redundant. The business has been under threat for some months and has now announced it is to cut costs by making fewer types of boats and reducing the workforce. Letters have been sent out to the threatened workers which gives them options to apply for jobs elsewhere in the VT Group. Company officials said, following a decline in orders for some Ministry of Defense and commercial craft, we have undertaken a strategic review that will result in us exiting some product lines and restructuring the business.

VT Group has been reviewing the Halmatic site in recent months. Part of the site is in the process of being sold off to developers, possibly for housing, with the future of the rest of the site unclear. One option could be to move VT Halmatic to the naval base alongside VT Shipbuilding and sell the land off for housing. Talks are currently taking place with the union. Defence economics expert at the University of Portsmouth, Dr Michael Asteris, said the loss of jobs was a problem specific to VT Halmatic and the competitive industry it was in, and not VT Group as a whole. Source: The News

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Coast Guard

Coast Guard groundbreaking ceremony recogizes new support facility

Representatives from the 14th Coast Guard District, Coast Guard Base Honolulu and Mortenson Federal Contracting Group participated in a groundbreaking ceremony

GAO: Limited Commercial Arctic Development Foreseen

Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining.

Canadian Icebreaker Refit Contracts Awarded

The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1145 sec (9 req/sec)