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

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

NYSE - LSE

RBGPF	2.38%	77.27	$
CMSC	-0.25%	24.17	$
BCC	-1.12%	89.02	$
SCS	0.46%	17.22	$
CMSD	-0.29%	24.39	$
JRI	0.8%	13.73	$
RIO	-0.39%	63.72	$
NGG	0.45%	70.42	$
GSK	-1.12%	40.05	$
AZN	-0.17%	81.56	$
RELX	0.55%	47.31	$
RYCEF	0.54%	14.69	$
BCE	-1.35%	24.39	$
BTI	0.3%	56.19	$
BP	-0.06%	33.91	$
VOD	-0.08%	11.8	$

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.

(W.Uljanov--DTZ)