Tiara announces more job cuts..UPDATE

I just hope they don't abandon the 30-40' market like so many other high end builders have. :-(

Ever since they've been introducing larger and larger boats I've been worrying that many of us will be priced out of the brand.
 
quote:
Originally posted by Ernesto

I just hope they don't abandon the 30-40' market like so many other high end builders have. :-(

Ever since they've been introducing larger and larger boats I've been worrying that many of us will be priced out of the brand.

Click to expand...


I second that. If they do however, there will be some 30-40' on the used market for us to have.

This is truly sad news. I hope things do not get worst for Tiara. Great Company with great boats. If I could, I'd help them out by buying a new boat from them.

Shel
 
The article mentions 2 new product lines. Does anyone know what they might be?

Shel
 
<<...."I just hope they don't abandon the 30-40' market like so many other high end builders have. :-( "...>>>

Yup. Same thing that Viking and Bertram did years ago. I hope Tiara doesn't do it, too.
 
you know ever since Ernesto bought his Tiara the brand has just gone downhill! ;) Just kidding Ern!

seriously...can't imagine they are weathering the storm any better than the other builders out there. I'd hate to own a boat building company right now.
 
My opinion about this situation (and my opinion only).

Tiara is a very financially sound business. Being privately owned, they have a huge base of assets, and a relatively small debt load. They make many boats for oversea customers from Europe, etc, which is a strong customer base due to the strength of their currency vs. the dollar.

However, since the US market declined, and the inventory is built up at dealers, it is only prudent to downsize the workforce. (in this case 14%) The Holland plant makes the Pursuit line and the 30-40 some footer Tiara's.

Not sure if the new 58 Sovran is being built there or not. The very large yachts are not made there.

They have been through this before, and will remain a viable producer of yachts.

Again, my opinions only.

I do have a customer who frequents my store. I'll see if he can shed more light on the subject.
 
I pass commercial shipyards, a mega-yacht builder yard and military boat builder yards every day and they all have signs out front that read "NOW HIRING SKILLED WORKERS". And these are $25.00 an hour jobs.
 
quote:
Originally posted by L. Keith

I pass commercial shipyards, a mega-yacht builder yard and military boat builder yards every day and they all have signs out front that read "NOW HIRING SKILLED WORKERS". And these are $25.00 an hour jobs.

Click to expand...


Obviously FAR, FAR, FAR from Michigan.
 
Everyone needs to keep in mind even after these 110 job cuts, Tiara will still be larger than what they were as recently as 2005. According to the numbers I found, they'll still have about 30 more employees than what I found listed for their size in '05.

So they're really cutting fairly recent growth, probably growth that went hand in hand with the real estate boom. But they're not down to a size or employee count that is new or odd to them.
 
true... the megayacht industry is booming, hiring, and launching more boats than ever. probably not in Michigan but indeed workforce mobility is key.
 
quote:
Originally posted by Beechwood297

My opinion about this situation (and my opinion only).

Tiara is a very financially sound business. Being privately owned, they have a huge base of assets, and a relatively small debt load. They make many boats for oversea customers from Europe, etc, which is a strong customer base due to the strength of their currency vs. the dollar.

However, since the US market declined, and the inventory is built up at dealers, it is only prudent to downsize the workforce. (in this case 14%) The Holland plant makes the Pursuit line and the 30-40 some footer Tiara's.

Not sure if the new 58 Sovran is being built there or not. The very large yachts are not made there.

They have been through this before, and will remain a viable producer of yachts.

Again, my opinions only.

I do have a customer who frequents my store. I'll see if he can shed more light on the subject.

Click to expand...


Actually, the Holland plant, expanded in 2006 so that it could build the 44 now 47 Sovran and the 58 Sovran, does not build the Pursuits. They are, I believe, built in Florida. Tiara sold their plant in the Carolinas, I can't remember where, to Brunswick to consolidate the Tiara line in Holland.
 
You must log in or register to reply here.
Back
Top