When P&O Ferries laid off 800 staff on 17 March, the firm’s desperation to stay afloat post-Covid was laid bare.
The move - which has been called an ESG "nightmare" - has put the company's ethics into question, while some argue it will be suffering from reputational damage for years to come. According to Freetrade analyst Gemma Boothroyd, the mass redundancies have "taken things from bad to worse" for the already struggling shipping operator as management sought to cut costs. "Plenty of Covid-hit businesses have shown a lot more tact over the past two years," she said. Since the sackings, allegations have circulated that P&O Ferries has sought to replace the existing staff with cheap labour. ...
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