Vosper Thornycroft May Have To Lay Off 650

Tuesday, October 03, 2000
Vosper Thornycroft Holdings Plc said on Tuesday it may have to make up to 650 people redundant due to a shortage of short-term shipbuilding production work. Vosper said the redundancy notices would not take effect until early next year and would only come into force if the company was unable to secure additional work. "We are taking this action as a precautionary measure. No company can keep people employed indefinitely on maintenance and other temporary work without damaging its overall prospects," Chief Executive Martin Jay said in a statement. Vosper's current seven-ship contract for Royal Navy minehunters was now nearing an end, and was insufficient to provide work for the 1,200 workforce before the beginning of a new order, for Type 45 destroyers, announced three months ago. In July Vosper won part of a billion pound contract awarded to defense group BAE Systems, to build three new Type 45 warships.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Regulations Threaten Superyacht Innovation

To increase innovation within the superyacht industry, designers need to work with flag states, classification societies and naval architects to ensure regulations are workable, as said by experts.

News Flash! Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at

Private Equity Drives New Ship Buys

Ship Registries are an excellent bellwether of industry health and trends, and when Maritime Reporter & Engineering News sought answers to some topical questions,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1011 sec (10 req/sec)