Ferry firm Stena Line to furlough 600 employees in UK and Ireland
Reuters
Published Apr 06, 2020 17:19
STOCKHOLM (Reuters) - Swedish ferry firm Stena Line will furlough 600 employees and make 150 redundant across the United Kingdom and Ireland, it said on Monday, citing the impact of the new coronavirus.
"This urgent measure is an unavoidable response to the on-going global COVID-19 crisis, that has had a hugely damaging effect on travel and transport across Europe," the privately held company said in a statement.
The company said it was experiencing a huge decline in travel bookings and freight volumes and that passenger figures were not expected recover until well into 2021.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.