The ferry operator says 'right-sizing' the business is necessary because of the impact of Covid-19.
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Macroeconomics: UK economy, IB Economics
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A brief overview of relevant articles for IB and A-Level all relating to the UK economy
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Graham Watson
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Another prominent business has announced job cuts, with P&O Ferries looking to lay off 1,000 staff. This reflects a decline in the number of ferry passengers and will have a multiplied effect on the local economy.
However, it's also quite controversial as the owners of P&O, DP World are based in Dubai, and some wonder whether it's appropriate for a company which has received so much state aid to make people redundant.