Swedish owned ferry company Stena Line has announced that it plans to furlough 600 employees with 150 redundancies across the UK and the Republic of Ireland. This urgent measure is an unavoidable response due to the on-going global COVID-19 crisis, that has had a hugely damaging effect on travel and transport across Europe.
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Since the crisis emerged Stena Line has experienced a large decline in travel bookings and freight volumes. It is estimated that passenger figures will not recover until well into 2021. As a result of the significant reduction in revenue, the firm is forced to take tough decisions in order to cut costs and ensure that their vital supply lines of essential goods to the UK and Ireland are protected.
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