New Jersey yacht builder cuts nearly 600 jobs

April 10, 2009 6:03:43 AM PDT
One of southern New Jersey's largest employers says it has finished its final round of layoffs and furloughs.

Viking Yacht Co. has cut 560 jobs from its work force of nearly 1,400 employees.

The high-end boat builder, based in Bass River Township, says no more layoffs or furloughs are planned. Viking Yacht says it hopes to bring back many of the workers by the fall if the economy turns around.

Before the economy sank, Viking was already suffering from lower sales caused by higher fuel costs. The company's sport fishing and motor yachts cost from $1 million to $4.5 million.

Viking vice president Andrew Davala says attendance was strong at Miami's boat show in February and the company is starting to sell boats in inventory.

Information from: The Press of Atlantic City, http://www.pressofatlanticcity.com

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