Connect with us

Hi, what are you looking for?

Metaverse CapitalistsMetaverse Capitalists

Business

Sunseeker insists it ‘deeply values’ workforce despite temporary layoffs

Luxury yacht manufacturer Sunseeker has sought to reassure employees that it “deeply values” their contributions, after the firm announced a series of temporary layoffs affecting production staff in early 2025.

The move, prompted by what Sunseeker describes as “cash-flow challenges” linked to supply chain disruption, has drawn criticism from Unite the Union and local MP Neil Duncan-Jordan, who labelled the timing “outrageous”. However, Sunseeker says it aims to “minimise” the impact on affected employees, pledging a review of the layoffs on 2 January.

In a statement, the Dorset-based company, which employs about 2,000 staff, said: “Due to restrictions in its supply chain which have heightened during December, Sunseeker has had to make the decision to implement temporary layoffs for a limited number of employees within production operations. This decision is focused on ensuring the long-term viability of operations and does not reflect on employee performance or contributions.”

Unite the Union described the move as “Scrooge-like” and “abhorrent”. Sunseeker, however, says affected employees will receive statutory payment or the option to use their paid holiday entitlement. It also confirmed that staff continuity of service will be preserved, alongside other non-monetary benefits.

Sunseeker changed ownership earlier this year when it was acquired by Orienta Capital Partners and Lionheart Capital for an undisclosed amount. Despite the temporary measure, the company insists it remains committed to supporting its workforce and will keep the situation under review.

Read more:
Sunseeker insists it ‘deeply values’ workforce despite temporary layoffs

    You May Also Like

    Stocks

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Business

    In the UK, the care sector is under incredible strain, it’s good to know there are people working hard to address the issue. One...

    Business

    With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike the right chord...

    Politics

    On January 10, the French government announced plans to raise the retirement age from 62 to 64. The change would mean that after 2027,...

    Dislaimer: pinnacleofinvestment.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 metaversecapitalists.com | All Rights Reserved