Facing competition from the Channel Tunnel and low-cost airlines, P&O’s board, led by chief executive Robert Woods, finally decided yesterday it needed to do something radical…
Facing competition from the Channel Tunnel and low-cost airlines, P&O’s board, led by chief executive Robert Woods, finally decided yesterday it needed to do something radical in an effort to restore its ferry operations to profit.
U.K. ferries operator P&O unveiled details of its planned restructure, which includes a major reduction of services between the south of England and France. The company is now closing four of its 13 ferry routes, and cutting the number of ships it operates by 25 per cent – down from 31 to 23. The routes to be cancelled are: one of the seven daily Dover to Calais crossings, Rosslare to Cherbourg, Le Havre and Caen and 0Portsmouth to Cherbourg.
Yesterday’s announcement that the group will cut almost a quarter of its fleet and axe 1,200 jobs
The proposals are expected to reduce the cash operating costs of the business by 20 per cent, equivalent to more than
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