A Belfast company famous for building the Titanic has declared insolvency, leading to a critical situation for many employees who now find themselves out of a job.
A Belfast company known for building the iconic Titanic has announced it will go into insolvency and appoint new administrators. According to official statements, an official decision will be issued this week, writes Sky News.
Around 60 jobs will be cut at Harland & Wolff, most of them in London. However, some of the employees will be moved to other functions.
The life of the company that built the Titanic is coming to an end
The GMB union has accused the government of a lack of an effective industrial strategy and mismanagement of the company, warning that workers, their families and communities are being badly affected. The GMB also called for state intervention to protect shipyards.
The company has confirmed that it is in talks with potential investors and that there are offers for some of the group’s assets.
Those interested include Babcock International, a defense company, and Navantia, a Spanish shipbuilder.
Russell Downs, Harland & Wolff’s acting chairman, said that while there were prospects for a comeback, the company’s life as a stock market listing was coming to an end.
Source: www.descopera.ro
