News

Corona crisis causes Meyer Turku to start negotiations to lay off people

Wed, 04/29/2020 - 09:40

Turku 28.4.2020. Turku shipyard started YT-negotiations about temporary layoffs in the middle of March. Since then, the corona virus pandemic influenced market situation of the shipyard’s customers’ is coming visible and is now forcing Meyer Turku to change the scope of the negotiations. These negotiations will include the permanent layoff of 450 people and other 900 are affected by other measures. These include temporary layoffs of different length, work time adjustments and other arrangements. All personnel groups and levels are part of the negotiations.

“The corona pandemic has changed the situation unexpectedly and totally. We are facing the fact that the corona-caused pause in cruising requires to stretch the order book. We are currently discussing the details with our customers. This new situation will force us to take painful adaptation measures to secure a sustainable future for Finnish cruise ship building and the network”, CEO of Meyer Turku, Jan Meyer, states.

“Our preparations have been for the future. Now unexpectedly that future has changed and we have to adjust to that new future. Instead of a further ramp-up from one to two large ships delivered per year until 2023, the estimation is now that Turku shipyard will in the future build one large cruise ship per year and not further ramp-up.”

The exact changes to the building and delivery times of the seven ships in Meyer Turku order book (formerly reaching until 2025) are still under negotiations with the shipyard’s customers.

Furthermore Meyer Turku is today publishing the 2019 financial figures. Ship project Costa Smeralda was delayed due to difficulties with the shipyard’s substantial ramp-up until today and the ship’s size & complexity. The losses are mainly related to delayed delivery of Costa Smeralda and reservations for the coming years.

Key Figures for Meyer Turku Group 2019 (including subsidiaries):

 

                                                                                       2019                    2018                    2017

Net Sales, M€                                                            1141.8                967.0                  808.2

Profit/loss for the financial year, M€                    -109.7                 29.0                     32.5

Profit/loss for the financial year %                       -9.6                     3,0                       4.0

Investments M€                                                        65.2                     71.3                     80.8

Personnel, average                                                   2386                    2205                    2009

 

More information:

Tapani Mylly
Communication Manager
tapani.mylly@meyerturku.fi
Mobile: +358-50-560 2464
www.meyerturku.fi

 

Read the original press release here.