Job cuts at Northamptonshire luxury boat builder

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Up to 80 workers at a luxury boat builder in Northamptonshire are to lose their jobs.

Fairline Boats made the announcement following the closure and sale of its Barnwell Road site in Oundle.

Fairline said the latest loss of employees, after redundancies in 2008 and 2009, was "regrettable".

The company, which has another site in Oundle and one in Corby, said earlier that it was considering how the firm could grow and develop.

Production of the Targa 44 has moved to Corby and staff have been transferred to Nene Valley, Oundle, to produce the new Targa 50, due for launch in December and the new Squadron 50, for which production will begin in 2011.

Derek Carter, chief executive, said: "The loss of up to 80 valued employees is regrettable but a consequence of the global market deterioration experienced in 2008/2009 and the steps we have had to take to secure the business and its plans for the future."

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