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

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

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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.

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"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.

P.Caruso--MJ