Sunseeker is set to cut around 200 jobs – approximately 10% of its workforce due to a softening in global demand.
The Poole-based luxury boatbuilder says it is restructuring its support, leadership and management teams and functions.
“This is not a decision we have taken lightly,” said Andrea Frabetti, Sunseeker International CEO.
“We are fully aware of the impact this will have on the affected employees, and our priority now is to engage openly and respectfully throughout the consultation process and provide as much support as possible.”
He continued: “I want to reassure our people, our partners, and the wider community that Sunseeker remains deeply committed to manufacturing in Poole and Portland. These sites are, and will continue to be, at the heart of our operations as we evolve for the future.
This is not a decision we have taken lightly.
Andrea Frabetti
“Our focus remains on safeguarding the long-term health of the business, supporting local employment, and continuing to deliver world-leading yachts to our global customers.”
Sunseeker says the decision has been made following a review of the company’s operations, with opportunities identified to better align ‘resources and enhance overall efficiency’.
A spokesperson explained that the reorganisation of Sunseeker’s leadership and management functions will ensure the company has the right capabilities in place to meet future business demands.
A formal consultation process will now take place with employees to consider all available options.
“Regrettably, there may be some redundancies and approximately 200 roles in support, leadership and management functions— around 10 per cent of our workforce could be affected,” said Sunseeker in a statement.
Deep regret
“It is with deep regret that we acknowledge redundancies may be necessary and we are fully committed to supporting our colleagues throughout this difficult process.”
In December 2024, Sunseeker announced it was temporarily laying off staff. These returned to work at the end of January 2025.
The boatbuilder was sold to an Italian and American partnership of private equity companies in November 2024.
Following the acquisition, a financing agreement – subject to both monthly and quarterly financial covenants – was put in place requiring the company to comply with cashflow cover, adjusted leverage and minimum liquidity levels.
