Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Carnival, the US-based global cruise operator has announced plans to cut jobs at Carnival UK, headquartered in Southampton.
Although the company has not confirmed the number of redundancies, local and national media have reported that up to 450 staff will be affected.
A spokesperson for Carnival UK justified the internal restructuring explaining that the COVID-19 pandemic has affected every aspect of the business since cruises were suspended in March and argued that ‘right-sizing’ and cost cutting were essential for the company’s survival.
Redundancy consultations with staff and trade unions are underway. In addition to the job cuts, the company plans to cut the working hours and the pay of remaining staff from July to November of about 20%.
Carnival is an international cruise line. In UK, the company operates P&O Cruises (UK) and the luxury Cunard lines from the Port of Southampton.
Eurofound (2020), Carnival, Internal restructuring in United Kingdom, factsheet number 101082, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101082.