Arizona Tribune - Dubai-owned P&O Ferries axes jobs to stay afloat

NYSE - LSE

RBGPF	-1.15%	68.56	$
RYCEF	-1.61%	20.5	$
NGG	-0.05%	80.62	$
CMSC	-0.38%	21.28	$
RIO	1.69%	102.17	$
BCE	0.34%	23.78	$
CMSD	-0.14%	21.12	$
RELX	0.79%	35.38	$
JRI	0.24%	12.41	$
VOD	-1%	16.01	$
BCC	-1.66%	81.77	$
GSK	-1.77%	51.96	$
BP	3.12%	45.14	$
BTI	1.27%	56.7	$
AZN	-0.28%	164.49	$

Dubai-owned P&O Ferries axes jobs to stay afloat

BOULEVARD 17.03.2022

Dubai-owned P&O Ferries on Thursday suspended sailings as it axed 800 jobs, or more than a quarter of staff, to keep the company afloat.

Text size:

"As part of the process we are starting today, we are providing 800 seafarers with immediate severance notices," the company owned by DP World said in a statement.

It comes after P&O earlier Thursday suspended its passenger and freight ships.

P&O Ferries operates four routes serving Britain, France, Ireland and the Netherlands.

"P&O Ferries is not going into liquidation," it said.

The group has ordered all its ships to return to dock.

P&O has been badly hit by fallout from Covid lockdowns and travel restrictions over the last two years.

"In its current state, P&O Ferries is not a viable business," the group said Thursday.

H.Thompson--AT

Arizona Tribune - Dubai-owned P&O Ferries axes jobs to stay afloat

Dubai-owned P&O Ferries axes jobs to stay afloat

Featured

Japan axes Netflix collaboration after outcry over dating show

US-sanctioned ICC head warns against 'demise of international rule of law'

Djibouti football federation accused of misusing funds

Australia charges man with trying to pass Ukraine military intel to Russia