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Tough Year as H&W Suffers With Job Cuts and Losses of £6m

12th July 2017
The famous yellow cranes of Harland & Wolff The famous yellow cranes of Harland & Wolff Photo: H&W

#BelfastLough - The Belfast Telegraph writes that Harland & Wolff has reduced dozens of staff in an "unacceptable" year amid "difficult market conditions" which saw sales collapse and the firm posting massive losses of £6m.

The former Belfast shipbuilder, which constructed the Titanic, saw turnover dropping from £66.7m, to just £8.3m in the year ending December 31, 2016.

As a result Harland & Wolff Heavy Industries turned the previous year's £1m profit into an almost £6m loss.

The company said "in recognition of the very difficult trading conditions" the firm "further reduced its core employment in the second quarter of 2016".

It now has 115 staff, down from 170 at the end of the previous year.

"The directors consider the results for the year to be unacceptable but reflective of the very difficult market conditions in 2016," the firm's strategic report said.

For more on this story click here.

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