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.
Transportation / Storage Land, Water And Air Transportation Water Transport 50 - Water transport
162 jobs Number of planned job losses
Announcement Date
4 November 2005
Employment effect (start)
Foreseen end date
Description
Cross-Channel ferry operator Hoverspeed is to end its service from Dover to Calais, resulting in the loss of "many" of its 162 jobs. The company, which is owned by Sea Containers, said it could no longer sustain losses on the English Channel. Despite crossings increasing by 17% this year, it said there remained surplus capacity on the route. Hoverspeed runs two Seacat fast ferries between Dover and Calais, employing 102 staff in Kent and about 60 in Europe. The company said a 'dramatic' increase in the price of fuel - up 54% from last year - was also a factor in its decision. The company said it would retain some staff to maintain the Seacat vessels until a decision is made on their future deployment. 'We shall be looking at various options as to how we may assist those employees who may now face redundancy,' the spokesman said.
Sources
4 November 2005: BBC News
Citation
Eurofound (2005), Hoverspeed, Closure in European Union, factsheet number 62485, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62485.
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