Princess to adopt flexible working hours

12:47 AM Wed 10 Dec 2008 GMT

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The UK builder, Princess Yachts International, has announced its labour force will adopt 'flexible working patterns' from 5 January in response to the worldwide downturn, a move it hopes will protect its position in the market.

With the support of both Unite Union and the Works Council, the company will also implement 'a small reduction in the working week in some areas'.

The move is a reaction to the current financial situation that will help increase production of larger craft, which have been affected less by the economic changes, and allow a significant increase to the number of people working on new products to bring forward launch plans.

The change was agreed in a ballot of the workforce and the company hopes the move will leave the company ready to capitalise on a position of strength once demand increases again.

'We take our responsibility as one of the area's main employers very seriously and we hope that by adjusting production in this way we will be able to cope with a softening market without the need to reduce the team,' said MD Chris Gates.

'It is of course impossible to predict how long this market condition will continue,' explained Gates, 'or indeed whether it will worsen before improving again, but we are optimistic that these measures will help protect our position during this difficult period.'

by Jeni Bone

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