Princess Yachts in Millbay Docks, Plymouth, where two £5m Y85 vessels await delivery. © Hugh Venables, Creative Commons.
It is understood that nearly 1,200 Princess Yachts workers will receive a 6.5 per cent pay rise following negotiations with the company.
Employees at the Plymouth boatbuilder had voted in favour of strike action after being told their wages would remain the same during pay talks.
Following the ballot, Princess Yachts put forward a 6.5 per cent offer from September, which staff accepted.
The rise is expected to mean those on the lowest pay grades will see their annual earnings increase by between £2,000 and £3,000.
READ NEXT: Shetland pony rescued by Devon charity finds new home after 'shocking' court case
Unite general secretary Sharon Graham said: “This is a huge victory for the Princess Yachts workers, who by sticking together in their union and voting for strike action forced the company back to the table.”
No strike action took place or was scheduled after the revised offer was made.
Unite regional officer Mark Richards said: “This deal could not have been achieved without the hard work and dedication of Unite’s workplace representatives.”
Princess Yachts is one of Plymouth’s largest private sector employers and is known to draw staff from across the city and surrounding areas, including southern Dartmoor communities.
Princess Yachts has been approached by The Moorlander for comment.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.