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Princess Yachts employees vote on possible strike

Workers plan to vote on strike action after pay rise demands were rejected.

July 22, 2025 at 04:05 PM

Strike threat at Princess Yachts after pay rise rejected

Union members at Princess Yachts consider strike action after pay rise demand rejected.

Workers at Princess Yachts prepare to vote on strike over pay dispute

Workers at Princess Yachts plan to vote on strike action over a pay dispute that has left them frustrated. The Unite union is taking this step after the company denied their request for a 3% pay rise, which would have been below inflation. More than 1,000 union members will be balloted on July 23, with options including a one-day-a-week strike for up to six months or a total overtime ban. The union argues that without a pay increase, workers face a real income drop of 9% due to inflation. Despite Princess Yachts experiencing a £24.5 million loss last year and laying off nearly 300 employees, union leaders are calling for better wages for the staff who are struggling to meet basic needs. The company acknowledges the difficult market conditions but emphasizes the need for stability in operations to improve its financial situation.

Key Takeaways

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Over 1,000 Princess Yachts workers to vote on potential strike action.

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Union demands a 3% pay rise, rejected by company.

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Workers face a 9% real income drop due to inflation.

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Princess Yachts reported a £24.5m loss in 2023, leading to layoffs.

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Union leaders blame the private equity owner for lack of investment in staff.

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A strike could begin as early as mid-August and last until next February.

"They can’t afford to put food on the table."

Mark Richards highlights the serious financial struggle of lower paid workers.

"If we don’t get a genuine rise this year then we will be 9% down attributed to inflation."

Mark Richards warns of the consequences of lack of pay adjustment for workers.

"Our turnaround plan is delivering positive results and we’ve made significant progress."

A spokesperson for Princess Yachts emphasizes the company's commitment to recovery despite losses.

"We respect the right of our employees to be represented and heard."

Princess Yachts acknowledges the union's efforts while expressing disappointment over the strike consideration.

The potential strike at Princess Yachts highlights ongoing tensions between workers and management in a challenging economic environment. With rising inflation affecting purchasing power, employees are increasingly vocal about their financial struggles. The union's decision to ballot for strike action may indicate a deeper need for fair compensation, particularly as many workers are already earning close to the minimum wage. This situation raises questions about the long-term sustainability of labor relations at Princess Yachts, especially under the ownership of private equity firms that often prioritize profits over workforce investment. The company's insistence on a turnaround plan, while maintaining profitability, must also consider employee well-being to prevent future disruptions.

Highlights

Workers are struggling to put food on the table.
We are open for negotiations but need a genuine pay rise.
Employees deserve a meaningful bonus for hard work.
A strike could threaten the company's progress.

Concerns of a potential strike and financial instability

The possibility of a strike action raises significant concerns regarding employee satisfaction and production stability at Princess Yachts. Workers’ frustrations over pay and the financial losses of the company could lead to ongoing unrest and impact productivity.

The outcome of the vote will significantly impact the workforce's future at Princess Yachts.

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princess yachts strike unite union inflation wages business labour economics

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