Fairline Boats Limited have announced a total of 275 redundancies at their Oundle and Corby production and administration sites. Those affected will remain in the jobs until March.

These cuts come after a lack in demand for luxury products due to global financial and economic conditions. The lack of high-end yacht seekers has sent a wave of anxiety for many Fairline staff.

In September the company cut 90 jobs and put hundreds of staff on part-time hours in an attempt to beat the credit crunch. Attempts were made to introduce three-day weeks for employees at its manufacturing base in Oundle. However, these efforts have proved unsuccessful.

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