Stena Line terminates 80 positions and 30 consultants due to high inflation and increased costs

FerryStena Line announced that they are launching a cost-cutting programme to be able to carry out necessary future investments. The programme includes the termination of 80 positions and around 30 consultants in 2025. High inflation and rising prices due to the introduction of the European Emission Trading Scheme (ETS) have resulted in reduced purchasing power for Stena Line's passengers and freight customers. This, in turn, has led to a decline in passenger and cargo unit volumes.

Large investments will also be required in energy supply and the transition to alternative fuels in the coming years, as well as for investments in digital solutions that benefit customers' needs.

After a review of the current organization and cost base, the company is launching a programme that will future-proof Stena Line. The programme involves a reduction in the workforce by 80 positions. In addition, around 30 consultants will be allowed to leave the company, subject to union negotiations. The layoffs will primarily affect support functions.

“It is with a very heavy heart that we have made this decision. Stena Line has been a successful company in recent years, but now is the time to make sure that we have a low enough cost base to future-proof the company. As one of the world's largest ferry companies with 40 ships in ten countries, we have major sustainability challenges ahead of us. The programme that we are launching today is necessary if we are to be able to tackle those challenges and implement the necessary future investments," says Niclas Mårtensson, CEO of Stena Line.

Nov 05 2024