P and O mulls major cuts in cross-channel ferry jobs

27th September 2004, Comments 0 comments

CALAIS, France, Sept 27 (AFP) - Peninsular and Oriental Steam Navigation Company could cut hundreds of jobs as it restructures its cross-channel ferry operations, a P and O official said Monday, speaking on condition of anonymity.

CALAIS, France, Sept 27 (AFP) - Peninsular and Oriental Steam Navigation Company could cut hundreds of jobs as it restructures its cross-channel ferry operations, a P and O official said Monday, speaking on condition of anonymity.  

On Sunday, the British newspaper The Sunday Times said that P and O would announce up to 1,000 job cuts, or 15 percent of the ferry operations' workforce, on Monday. It said the company also would scale back the number of ferry sailings.  

The P and O official said an extraordinary committee meeting was being held in London Monday to look at the results of an audit commissioned from RSM Robson Rhodes, a British partnership of chartered accountants and management consultants.  

The audit was launched in March because of the company's financial difficulties. P and O posted an operating loss of about 57 million euros (69.9 million dollars) in 2003 and a loss of 38 million euros in the first half of 2004.  

The official said another committee meeting was expected to be held Tuesday in Le Havre, France.  

He said P and O's cross-channel ferry operations employ 5,500 people. Of those, about 280 people are ground staff in France, and approximately 80 are ferry crew. The remaining staff are based in Britain.  

P and O runs 23 ferries serving Belgium, the Netherlands, France and Spain.

 

© AFP

 

Subject: French News

0 Comments To This Article