P&O Ferries announces major review of business

P&O Ferries announces major review of business

Dover-Calais operator P&O Ferries is reportedly poised to conduct a review of its entire business.

It blamed the “extremely tough” economy across Europe.

The company has told 4,000 staff in a memo from chief executive Helen Deeble that every area will be looked at in a bid to boost profits, The Sun reported.

P&O Ferries last carried out a comprehensive review in 2004 when it dropped routes and 2,000 workers. A spokesman told the newspaper that job cuts were not part of the plan.

Deeble reportedly warned in the memo that the ferry company has to improve performance “both on revenue generation and costs”.

“Trading conditions are extremely tough due to the state of the economy across Europe,” she said.

“There has also been major competitor activity in the Irish Sea which has hit results hard. We also face significant increases in our pension contributions.

"As we plan our budgets, it is clear that we need to reassess our operations.”


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