More than 80 jobs are at risk in Raymarine’s empire following a ‘sharp turn down’ in the market, a spokeswoman told YM. Thirty eight staff jobs may be lost at their two Portsmouth sites which together currently employ 310 people.

More than 520 people, including contractors, are employed by the marine electronics company throughout the world and of these a further 46 jobs are at risk.

News of the job losses follows Raymarine’s review of costs throughout the business last month. Peter Ward, Executive Chairman, stated that the downturn seen in the leisure marine market reflected that seen in many other industries and that this was having an effect on Raymarine’s business activities.

He said it was with great regret that Raymarine had to put jobs at risk but it was necessary to plan now to ensure the health of the company for the future.

Raymarine is seeking to eliminate a significant element of costs across all aspects of the business.