keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,910
Likes: 2,330
|
Post by keitha on Mar 17, 2022 15:02:22 GMT
if it is true they are doing a fire and rehire exercise I for one will be boycotting them
|
|
|
P&O
Mar 17, 2022 16:37:10 GMT
Post by Deleted on Mar 17, 2022 16:37:10 GMT
Yep, I just joined the 600+ bombing their facebook account
|
|
agent69
Member of DD Central
Posts: 5,662
Likes: 4,231
|
Post by agent69 on Mar 17, 2022 16:37:47 GMT
if it is true they are doing a fire and rehire exercise I for one will be boycotting them Looks like the business is not viable in its current format, in part due to high staff costs of british and french employees. Three options:
- everyone takes a big pay cut
- get rid of the current staff and replace them with cheaper foriegn workers
- put the business into liquidation
Take your pick
|
|
registerme
Member of DD Central
Posts: 6,268
Likes: 6,069
|
P&O
Mar 17, 2022 16:43:59 GMT
Post by registerme on Mar 17, 2022 16:43:59 GMT
I thought redundancy and rehiring into the exact same role was illegal?
|
|
agent69
Member of DD Central
Posts: 5,662
Likes: 4,231
|
P&O
Mar 17, 2022 16:53:36 GMT
ozboy likes this
Post by agent69 on Mar 17, 2022 16:53:36 GMT
I thought redundancy and rehiring into the exact same role was illegal? You use the BA approach and offer employees a different sounding job title with exactly the same responsibilities as before.
|
|
registerme
Member of DD Central
Posts: 6,268
Likes: 6,069
|
P&O
Mar 17, 2022 16:54:25 GMT
Post by registerme on Mar 17, 2022 16:54:25 GMT
I thought redundancy and rehiring into the exact same role was illegal? You use the BA approach and offer employees a different sounding job title with exactly the same responsibilities as before. Which is a pretty ****** approach .
|
|
|
P&O
Mar 17, 2022 17:01:56 GMT
Post by Deleted on Mar 17, 2022 17:01:56 GMT
shareholders still getting reasonable dividend..... P&O have wanted to get rid of European staff for ages, they are just not wasting this emergency. Nationalisation is the only solution for being turds.
|
|
travolta
Member of DD Central
Posts: 1,461
Likes: 1,173
|
P&O
Mar 17, 2022 17:28:53 GMT
Post by travolta on Mar 17, 2022 17:28:53 GMT
shareholders still getting reasonable dividend..... P&O have wanted to get rid of European staff for ages, they are just not wasting this emergency. Nationalisation is the only solution for being turds.
Interesting, nationalising turds ....?
|
|
agent69
Member of DD Central
Posts: 5,662
Likes: 4,231
|
P&O
Mar 17, 2022 17:30:53 GMT
Post by agent69 on Mar 17, 2022 17:30:53 GMT
You use the BA approach and offer employees a different sounding job title with exactly the same responsibilities as before. Which is a pretty ****** approach . And the alternative is?
|
|
adrianc
Member of DD Central
Posts: 9,069
Likes: 4,850
|
P&O
Mar 17, 2022 17:46:31 GMT
Post by adrianc on Mar 17, 2022 17:46:31 GMT
shareholders still getting reasonable dividend... ... Nationalisation is the only solution for being turds.
Minor issue. They are already nationalised. P&O is owned by DP World, which is owned by Port and Free Zone World, which is owned by Dubai World, which is owned by the Dubai gov't. P&O used to be listed on NASDAQ Dubai - although only 20% of their equity - but it was bought in a couple of years ago, just before the pandemic. www.reuters.com/article/us-dp-wrld-delisting-idUSKBN20B0F8
|
|
agent69
Member of DD Central
Posts: 5,662
Likes: 4,231
|
P&O
Mar 17, 2022 18:02:50 GMT
Post by agent69 on Mar 17, 2022 18:02:50 GMT
shareholders still getting reasonable dividend... ... Nationalisation is the only solution for being turds.
Minor issue. They are already nationalised. P&O is owned by DP World, which is owned by Port and Free Zone World, which is owned by Dubai World, which is owned by the Dubai gov't. P&O used to be listed on NASDAQ Dubai - although only 20% of their equity - but it was bought in a couple of years ago, just before the pandemic. www.reuters.com/article/us-dp-wrld-delisting-idUSKBN20B0F8P&O is owned by DP World, the multi-national ports and logistics company based in Dubai. It paid a £270m dividend to shareholders in 2020.
|
|
|
P&O
Mar 17, 2022 18:56:13 GMT
Post by bernythedolt on Mar 17, 2022 18:56:13 GMT
I thought redundancy and rehiring into the exact same role was illegal? Apparently not. "Nathan Donaldson, employment solicitor at Keystone Law.... said a government review of firing and rehiring in November 2021 did not outlaw the practice but emphasised "that it should be a process of last resort"." -- www.bbc.co.uk/news/business-60779001
|
|
registerme
Member of DD Central
Posts: 6,268
Likes: 6,069
|
Post by registerme on Mar 17, 2022 18:57:22 GMT
I thought redundancy and rehiring into the exact same role was illegal? Apparently not. "Nathan Donaldson, employment solicitor at Keystone Law.... said a government review of firing and rehiring in November 2021 did not outlaw the practice but emphasised "that it should be a process of last resort"." -- www.bbc.co.uk/news/business-60779001Thank you. I didn't know that.
|
|
|
P&O
Mar 17, 2022 19:08:57 GMT
Post by bernythedolt on Mar 17, 2022 19:08:57 GMT
I'm no economist, but I guess this is market forces at work? Have the unions been too greedy and unrealistic in the past? Could it be that an arbitrary minimum wage policy has disturbed the natural order of things?
I have no idea, just wondering what could have led up to this.
|
|
registerme
Member of DD Central
Posts: 6,268
Likes: 6,069
|
Post by registerme on Mar 17, 2022 19:22:16 GMT
Which is a pretty ****** approach . And the alternative is? That's a fair question, and I don't know the answer. But you might imagine some combination of:- * Put prices up * Seek shareholder support (if COVID is a short term impact) * Seek government support (if COVID is a short term impact / Brexit is a long term impact) * Negotiations with unions * Lowering cost of capital / reducing debt * Reducing dividend * Discussions with creditors I don't exactly follow P&O closely but I'm surprised that none of the above has been mentioned in the press. If you compare this situation with that of BA a couple of years ago iirc that was widely trailed in the media (and much of the above was looked at). If nothing else this is likely to play yet more havoc with freight transport to the UK. Just firing 800 of your staff seems... unhelpful.
|
|