P&O Ferries make 800 British Workers Redundant

[nomadking]

Originally Posted by Hugh

Well, when O2/BT Cellnet split off from BT in 2002, they followed the guidelines (90 day consultation, notifying "at risk" employees, looking for alternative posts in the company for those at "at risk) - pretty sure O2 didn’t go bust (or all the other companies that followed the process).

I have been made redundant four times, have had the awful task of making others redundant four times, and the guidelines were followed every time, and all of those companies (except one) are still in business.

(The one that isn’t was a Financial Services company, and it failed in 2008…)

Was O2 or any of those other companies at immediate risk of otherwise going bust? Their rivals had already cut jobs at that point.


A business isn't going to do things this way, unless there are sound business reasons for doing so. Eg trying to avoid disruption because of inevitable strikes.

[BenMcr]

Is hiding stuff the default for this government?

https://www.theguardian.com/business...ing-says-union

Government knew of P&O Ferries sackings the day before, No 10 admits

Labour and unions demand immediate action including suspending licences of parent company DP World

Sources at the DfT said it was made aware of the impending mass sackings and suspension of ferry services on Wednesday night.

Boris Johnson’s official spokesperson had said on Thursday: “We weren’t given any notice to this.”

[Julian]

Originally Posted by BenMcr

Is hiding stuff the default for this government?

https://www.theguardian.com/business...ing-says-union

Tut tut, deliberately ignoring a relevant paragraph to suit your agenda

He confirmed on Friday that senior officials at the DfT had first been informed about the firm’s plan on Wednesday evening but had kept the information within a small group, because of concerns about commercial sensitivity.

If it’s being claimed by RMT Union that these employees were in Jersey jurisdiction for employment law and was sacked because of it, wtf it got to do with UK government?

[BenMcr]

Originally Posted by Julian

Tut tut, deliberately ignoring a relevant paragraph to suit your agenda

I did read that bit, it was this bit I was talking about

Boris Johnson’s official spokesperson had said on Thursday: “We weren’t given any notice to this.”

They could have quite easily said yesterday what you quoted.

---------- Post added at 15:06 ---------- Previous post was at 15:04 ----------

Originally Posted by Mick

If it’s being claimed by RMT Union that these employees were in Jersey jurisdiction for employment law and was sacked because of it, wtf it got to do with UK government?

Because they live in the UK and have paid UK tax? Was obviously something to do with the UK government if P&O Ferries staff qualified for furlough payments from them and not from the Jersey government.

They will also now have to claim UK dole. As they’re all UK domiciled there may have been an obligation to tell the DfT, which it now appears they did, though whether they did it in a way that satisfies their obligations, I don’t know.

Well P&O still didn’t apply the legally required notice, or undertake any kind of consultation whether it be Jersey or UK law.

Originally Posted by nomadking

Was O2 or any of those other companies at immediate risk of otherwise going bust? Their rivals had already cut jobs at that point.


A business isn't going to do things this way, unless there are sound business reasons for doing so. Eg trying to avoid disruption because of inevitable strikes.

Going bust?

It’s parent company increased revenues and profits, according to its latest results…

https://www.marketwatch.com/story/dp...e-271646899806

The Dubai-based logistics company said pretax profit was $1.35 billion compared with $1.08 billion in 2020.

Revenue rose to $10.78 billion from $8.53 billion the year before.

[pip08456]

Originally Posted by Mick

Erm, just before you get a little bit excited and throw another wobble about the UK government, if P&O Ferries is based in Jersey, then Jersey jurisdiction applies. Jersey is a self governing country with its own independent laws. The only responsibilities the UK government has on Jersey, is to defend it and represent it, internationally.

It's also owned by Dubai-based logistics giant DP World. The bought it in 2019.

[nomadking]

Originally Posted by Hugh

Going bust?

It’s parent company increased revenues and profits, according to its latest results…

https://www.marketwatch.com/story/dp...e-271646899806

Parent company, and from PRE-COVID times.
The parent company handed over £100m to P&O to cover its losses.

[1andrew1]

Originally Posted by nomadking

Parent company, and from PRE-COVID times.
The parent company handed over £100m to P&O to cover its losses.

Pretty sure that Covid was around in 2021 which is when its results in question are for.

The losses for P&O were £86m for y/e Dec 2020 and £40m for y/e Dec 2019 with a small profit of £9m for y/e Dec 2018. No other audited figures have been officially reported.
https://find-and-update.company-info...filing-history

But if a subsidiary company is loss-making, then its parent company could see it fall into administration.

If I was DP World and looking for a way out, my inclination would be to sell P&O to DFDS or another competitor. Its current course of action has just reduced the value of the business considerably and I speak as someone previously involved in selling businesses. If you don't have staff loyalty (or any staff) and customer loyalty then the only assets you have for sale are the ships. The business where you add value between the three areas is gone.

Originally Posted by 1andrew1

Pretty sure that Covid was around in 2021 which is when its results in question are for.

The losses for P&O were £86m for y/e Dec 2020 and £40m for y/e Dec 2019 with a small profit of £9m for y/e Dec 2018. No other audited figures have been officially reported.
https://find-and-update.company-info...filing-history

And blaming UK workers for that when the company carries something like 10% of the traffic in and out of our ports is absurd. It has been chronically mismanaged.

[nomadking]

Originally Posted by 1andrew1

Pretty sure that Covid was around in 2021 which is when its results in question are for.

The losses for P&O were £86m for y/e Dec 2020 and £40m for y/e Dec 2019 with a small profit of £9m for y/e Dec 2018. No other audited figures have been officially reported.
https://find-and-update.company-info...filing-history

The company said this was supported by acquisitions and new concessions.

P&O made a £100m loss. Still the revenue and profits of the PARENT company, and NOT P&O.

[1andrew1]

Originally Posted by nomadking

P&O made a £100m loss. Still the revenue and profits of the PARENT company, and NOT P&O.

So you acknowledge that Covid was around in 2021 and Hugh wasn't just dreaming it?

P&O may well have made a loss of £100m in 2021, but I've not seen any audited figures confirming this.

[nomadking]

Originally Posted by 1andrew1

So you acknowledge that Covid was around in 2021 and Hugh wasn't just dreaming it?

P&O may well have made a loss of £100m in 2021, but I've not seen any audited figures confirming this.

Link

It paid a £270m dividend to shareholders in 2020.

So based upon business pre-covid.
Link

P&O said its survival was dependent on "making swift and significant changes now".


"We have made a £100m loss year on year, which has been covered by our parent DP World. This is not sustainable. Without these changes there is no future for P&O Ferries."