In the past three years New Zealand Superyacht builder Alloy Yachts has won many superyacht awards, most recently with Mondango3.
The company has over the years picked up 30 international design and innovation awards, and has launched about 60 superyachts in 20 years.
Prizes are however no substitute for an empty order book and now the builder has cut 57 jobs blaming a high currency exchange rate that is putting pressure on the business. Earlier this year, the company reduced staff numbers from 330 to 225.
The company is one of just four remaining superyacht builders in New Zealand, after the closure of Fitzroy Yachts in January.
Admitting that the firm had been struggling recently managing director Tony Hambrook said Alloy Yachts would be able to make a come back, when the market picks up.
“We’re certainly not closing up at all but it is true that we will have a significant number of redundancies,” Hambrook told a local newspaper. He told them that he would not rule out further redundancies adding “We are currently working very hard to secure a new contract” that would make such a step unnecessary.
He insisted that “Job cuts were are not made lightly, but we are not in a position to carry this number of people when we can’t keep them actively employed. So the prudent measure is to look after the company.”