Carnival Corp. CEO Arnold Donald.
Lynne Sladky/Associated Press
Carnival Corp. announced company-wide layoffs, furloughs, and pay cuts on Thursday.The moves came two months into a cruise-industry shutdown caused by the spread of COVID-19.Carnival CEO Arnold Donald sent an email to the company’s employees explaining the decision.Carnival did not immediately respond to a request for comment. Are you a current or recent employee of Carnival or another cruise company? Do you have an opinion on how your company or the industry as a whole has handled the coronavirus? Email this reporter at firstname.lastname@example.org. You can also reach out on Signal at 646-768-4712 or email this reporter’s encrypted address at email@example.com.Visit Business Insider’s homepage for more stories.
Carnival Corp. on Thursday announced company-wide layoffs, furloughs, and pay cuts in response to the impact of COVID-19, which has shut down the cruise industry since March. Carnival CEO Arnold Donald sent an email to the company’s employees explaining the decision. Business Insider obtained a copy of the email.You can read Arnold’s full message below:To all shoreside team members,In late March, I shared with you our intent to minimize the financial impact on each of you from the COVID-19 pandemic, if possible, through June. While many other companies in their efforts to ensure their survival took early actions in workforce reductions and pay cuts, we protected our employee base while doing everything in our power to give our company the best chance going forward. While maintaining our focus on compliance, environmental protection, and health and safety, that has included tightening down to only necessary expenses, repatriating crews, terminating contractors, deferring most capital expenses, slowing down shipbuilding, eliminating stock dividends, eliminating senior executive cash salary payments, and mortgaging the majority of our fleet in order to raise cash and boost liquidity.We have always operated under the principle of planning for the worst and hoping for the best. Unfortunately, it is clear that we must prepare for this pause to last longer than any of us would like, with no real c
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