Live updates

Advertisement

Plymouth's Princess Yachts to axe 350 jobs

The firm marked 50 years in business in 2015. Credit: ITV West Country

Luxury yacht builder Princess Yachts is to axe up to 350 jobs following a meeting with more than 2,000 staff and unions.

The manufacturer, which has sites across Plymouth announced it would start redundancy consultations.

It's believed jobs will go across the company including, in back office and in its development and production divisions.

The luxury yacht makers marked 50 years in business last year and are due to unveil new boats at the London Boat Show next week.

The firm's site in Plymouth has a workforce of 2,000 employees. Credit: ITV West Country

Despite the cuts, the firm say they're looking forward to the new year 'with confidence'.

They say the job losses form part of a long-term plan to improve productivity across the company’s Plymouth facilities.

We have invested heavily in state-of-the-art facilities and product development while our competitors’ businesses have been contracting, and we are proud of our commitment to Plymouth, having maintained a consistently high level of employment throughout the recessionary period.

However, like all successful companies, we need to be able to adapt and adjust the constitution of our workforce periodically.

Today’s announcement of job losses, although not undertaken lightly, is designed to maintain the business in the best possible shape for the next phase in its evolution."

– Chris Gates, Managing Director of Princess Yachts

Advertisement

Major job losses as paper mill closes

Wansbrough Paper Mill is due to close today with the loss of 176 jobs Credit: ITV News

More than 170 people will be left jobless over Christmas with the closure of a Somerset town's biggest employer.

Staff at Wansbrough paper mill in Watchet will clock off for the last time this afternoon. It marks the end of a manufacturing tradition dating back more than 250 years.

The plant owners, DS Smith, have blamed the loss of a major contract and the need for huge investment to bring the mill up-to-date.

88,000 workers in the SW won't get Christmas Day off

Spare a thought for the NHS staff who will have to work over Christmas Credit: ITV News

The Trade Union Centre is urging people to spare a thought for those having to work on Christmas.

It has revealed 88,000 people in the South West would not have the day off. It's an increase of 4,000 over the last three years.

Medical staff and care workers make up a large share of those working.

1 in 31
employees in the South West are set to work

Christmas Day is a special day that millions of us spend with our nearest and dearest. So we should all spare a thought for the people who will be hard at work while we're opening our presents, tucking into the turkey and relaxing with our families. Many on duty on Christmas Day will be on low pay, especially in sectors like hospitality and social care.

– TUC GENERAL SECRETARY FRANCES O'GRADY

South West has lowest unemployment rate in UK

Unemployment in the South West has fallen by 10% in the last three months Credit: ITV News

Unemployment in the South West has fallen, and now our region has the lowest unemployment rate in the country.

Figures out this morning show 113,000 people were out of work between June and August - a drop of over 10 percent on the previous three months. It's in line with the national trend, Unemployment in the UK has fallen to a seven-year low.

Load more updates