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 Royal Caribbean Cruises Ltd. Plans to cut 400 jobs
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July 23, 2008
Author: employmentcros Added: Tue, 22 Jul 2008 23:55:06 -0800 Duration: 203Royal Caribbean Cruises Ltd. plans to cut 400 jobs all due to the increase of gas prices. Since the beginning of the year the companies fuel bill rose to $180 million dollars. The Miami-based cruise line handed out pink slips to workers on Monday. Richard D. Fain, Chairman and Chief Executive Officer of Royal Carribbean, told the Miami Herald that, the bulk of the jobs being cut are in Miami and in Broward. The cruise operator announced that their second quarter earnings of $84.7 million dollars fell into a slump as compared to the same time last year when it was up at 128.7 million dollars. Royal Caribbean said that in order to cut costs by $125 million dollars, jobs would need to be eliminated.
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