Cookson Boats feels pinch, to lay off entire workforce

[Source: Newstalk ZB] An Auckland boat building company, renowned for building world class racing yachts, is laying off its entire workforce.

Cookson Boats has no future work booked and when their current projects are finished, there will be nothing left for the 62 staff members to do.

The company has been around for more than 30 years, with some of the most notable work building boats for Team New Zealand in the America's Cup.

Publisher and Editor of Pacific Motor Yacht magazine, Barry Thompson, says the whole boating industry is suffering from a lack of orders. He says when people stop buying boats, they stop buying engines, electronics, fabrics and so on, having an impact on the entire industry.

Mr Thompson is aware of many people who have the money to spend on a boat but are too scared to do so in the current economic climate.

Other notable projects from the Cookson shed include Sayonara, built for Larry Ellison, which won four consecutive world maxi championships,

Steve Fossett's Cheyenne (formerly Playstation) which set the round the world record in 2004, Larry Ellison's Sayonara, Roy Disney's maxZ86 Pyewacket and supermaxi Maximus.