P&O Ferries spent over £47 million on the mass dismissal of 786 UK workers, replacing them with low-cost agency staff, sparking public outrage.
The company's 2022 financial accounts reveal significant losses and breaches of debt covenants, forcing increases in overdraft facilities to maintain operations.
Despite justifying the sackings as necessary for survival, P&O's actions have severely damaged its brand and reputation within the travel industry.
P&O spokesperson acknowledged that the company needed to adapt to 'new market conditions' while contending with the fallout of the layoffs.
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