P&O Ferries confirmed yesterday it has suspended its services ahead of a "major company announcement".
The travel giant employs 3,000 workers and has 20 ships. A P&O Ferries spokesperson later confirmed to The ECHO that the firm needed to lay off 800 of its workers due to losing £100million year on year.
The spokesperson said P&O is "not a viable business" as it is. They added: "Our survival is dependent on making swift and significant changes now. Without these changes there is no future for P&O Ferries."