P&O

[S-Westerly]

5 hours ago, Bianco2564 said:

My understanding is the jobs aren't redundant, they just want to cut the wages bill?

They said they were running at £100m a year loss, but could find £36m to cover redundancies?

 

P & O now owned by Dubai only want to slash wages to increase their already significant profits. They made a loss in 2020/2021 but that was during Covid so not exactly a surprise. They still managed to pay out a £270 million dividend to shareholders.  Regardless of the legality or otherwise of what they've done it is morally reprehensible imo. 

[Bender]

3 hours ago, fullscreenaging said:

What profits though?

Running at 100m loss. 
 

 

Parent company is huge

 

Carnival Corporation & plc

 

Over 1billion in 2018. 

 

Who knows what's been said to those running p&o, could have been cut costs or your all out of a job or cut costs and you can have a pile of gold 

[fullscreenaging]

Ahhh ok cheers. Didn’t know that. 

[Bender]

29 minutes ago, fullscreenaging said:

Ahhh ok cheers. Didn’t know that. 

Me neither to start with, press just reported the headline bit, neglected the parent company bit. 

[S-Westerly]

5 hours ago, Bender said:

Parent company is huge

 

Carnival Corporation & plc

 

Over 1billion in 2018. 

 

Who knows what's been said to those running p&o, could have been cut costs or your all out of a job or cut costs and you can have a pile of gold 

P&O Ferries are NOT owned by Carnival Cruises. They were spilt off from P&O Cruises 20(?) years ago. P&O Ferries are basically owned by Sheikh Al Makhtoum, Emir of Dubai who is the principal owner of DP World who actually owns P&O Ferries. They also own a lot of ports / terminals around the world as well as major shipyards. Totally different organisations.

Edited March 26, 2022 by S-Westerly

[Bender]

58 minutes ago, S-Westerly said:

P&O Ferries are NOT owned by Carnival Cruises. They were spilt off from P&O Cruises 20(?) years ago. P&O Ferries are basically owned by Sheikh Al Makhtoum, Emir of Dubai who is the principal owner of DP World who actually owns P&O Ferries. They also own a lot of ports / terminals around the world as well as major shipyards. Totally different organisations.

See what you get for googling , I remember dp World being mentioned, same thing regards payouts, it wasn't p&o that paid out 200m in divis. 

[Mississippi Bullfrog]

8 hours ago, Bender said:

See what you get for googling , I remember dp World being mentioned, same thing regards payouts, it wasn't p&o that paid out 200m in divis. 

P&O are divis.