More job cuts ahead at Stabicraft

• Published date: 18 April 2024
• Publication title: Otago Daily Times (New Zealand)

Stabicraft Marine said in a statement yesterday it had this week met staff and announced proposed changes to staffing levels due to deteriorating market conditions for new boats

‘‘We are now consulting with staff about those proposed changes that involves ways to reduce production costs, including reducing staffing levels across the business.’’

This follows an earlier consultation process in February which led to Stabicraft Auckland closings and jobs lost at the Invercargill facility. It was believed more than 30 jobs had gone in February.

Stabicraft Marine chief executive Aaron Greene said changes already made this year had not been enough to meet the dramatic decline in sales.

Economic conditions in New Zealand had caused a significant slowdown in the demand for luxury goods, which had directly affected Stabicraft.

‘‘We continue to explore ways to reduce costs across the business and consider all options before we look at reducing staff, but the reality is we are not able to keep up the current level of production and need to respond in a way that’s sustainable for the business.’’

This was a tough time for...