24/7 eTV BreakingNewsShow : Click on the volume button (lower left of the video screen)
Breaking Travel News Cruising News People Sweden Breaking News Transportation Travel Wire News Various News

Swedish-owned Stena Line makes a hard decision

Swedish-owned Stena Line makes a hard decision
stena

Swedish-owned Stena Line recently announced that it plans to furlough 600 employees and make 150 redundancies across the UK and Ireland. This is a sign of things to come in the days ahead for the cruise industry, says a leading data, and analytics company.

Ben Cordwell, Travel and Tourism Analyst comments: “Making redundancies are one of the hardest decisions a company will have to make, but it is quite often the most common step for businesses in times of financial hardship. By making redundancies, companies can reduce costs and stabilize cash flows.

The current economic environment brought on by the COVID-19 outbreak has made it extremely difficult for businesses within the cruise industry to operate.

Cordwell adds: “Stena Lina is not the first company to take this step, with Virgin Voyages confirming redundancies have been made within its shore-side team in the US. More businesses will almost certainly need to take these measures in order to survive the impact of COVID-19.”

Stena Line is one of the largest ferry operators in the world. It services Denmark, Germany, Ireland, Latvia, the Netherlands, Norway, Poland, Sweden and the United Kingdom, Stena Line is a major unit of Stena AB, itself a part of the Stena Sphere

Print Friendly, PDF & Email

About the author

Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1977).
He founded eTurboNews in 1999 as the first online newsletter for the global travel tourism industry.