Fairline, the luxury yacht and powerboat specialist, has spoken about its recent move to downsize its workforce; a decision it claims was made as a direct result of the current credit crisis.
Fairline's decision will see 275 of its employees lose their positions within the company.
The company's sudden decision to make the cutbacks came as a surprise to most, as it was assumed that Fairline, based in Northamptonshire in the UK, had made the necessary alterations to its workforce a few months ago when 90 employess were made redundant.
A statement released by the company explained that "the ongoing global financial and economic conditions continue to affect demand for luxury products across many industries and regrettably, Fairline's products are not immune from these effects."
The individuals in question will remain employed by Fairline until March 2009.
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