STX cuts jobs in France

South Korean shipbuilder STX is shedding over 350 jobs in France through voluntary departures at the Saint-Nazaire shipyard. The yard employs around 2,410 people and has received no new orders for civilian vessels since 2007.

STX France said it was cutting its capacity from 2.5 vessels per year to 1.5 vessels for the coming years. Eric Breux, head of human relations at STX France, said the plan “could be revised if new orders come in between now and the end of January.” STX earlier this month said it would be forced to cut 400 jobs at its Turku shipyard in western Finland next year because of the slump in orders.

STX Europe has said it expects a pick-up in orders as the global economy recovers but in the third quarter it switched into a net loss after posting a profit in the same period last year.