Miami-based Norwegian Cruise Line lays off 9% of its shoreside workforce

[BermudaBound2014]

NCLH stated they don't expect to get to 100% occupancy until mid 2023. More layoffs are inevitable across all cruise lines. 

 

Anyone else humming "When the levee breaks?" 

[graphicguy]

Ahhhh...the infamous RIF.  Spent decades at a certain large copier company when I was right out of college.  Saw them stubbornly stick with their business model though even the lowliest employee could see where the market was going (and it wasn't up).  RIF after RIF after RIF until they finally got to me.

 

NCL sounds like they're changing their business processes and more RIFs will certainly follow.  I'm not a financial wiz, but my gut told me to sell my NCL stock last week.  Seems like my "gut" was right.

[njhorseman]

1 hour ago, LouChamp said:

If you have followed FDR over the years you are correct. He is a legal milkman.  Ran Renaissance into the ground after 9/11.  He is crafty yet his products are good.  Almost like Frank Lorenzo of the airline days. Texas Airlines, Continental.  He brought home millions during Covid and now pits his son in charge. While Ted Arison rest in peace did the same for Mickey the culture and products delivered were different.  That said lets see what happens. 

 

Your timelines are wrong.

While FDR certainly was one of those responsible for the demise of Renaissance, he was fired by Renaissance in April 2001, five months before 9/11 . Renaissance ceased operations only two weeks after the 9/11 terrorist attacks. Their finances were in horrible shape long before 9/11, and the terrorist attacks merely were the straw that broke the camel's back,.

[LouChamp]

Yes agree with you about the timeline but he did run it into the ground. Hes shrewd but probably legal

[The Traveling Man]

I found it interesting that in the midst of all these layoffs, including many corporate VPs, Senior VPs, and even some Executive VPs, that NCLH promoted someone to CEO of their Oceana brand who is named Frank Del Rio, Jr.

[ChiefMateJRK]

2 minutes ago, The Traveling Man said:

I found it interesting that in the midst of all these layoffs, including many corporate VPs, Senior VPs, and even some Executive VPs, that NCLH promoted someone to CEO of their Oceana brand who is named Frank Del Rio, Jr.

That's Megacorp for ya 💩

[shof515]

3 minutes ago, The Traveling Man said:

I found it interesting that in the midst of all these layoffs, including many corporate VPs, Senior VPs, and even some Executive VPs, that NCLH promoted someone to CEO of their Oceana brand who is named Frank Del Rio, Jr.

nepotism at its fineness

[njhorseman]

2 hours ago, ChiefMateJRK said:

That's Megacorp for ya 💩

 

2 hours ago, shof515 said:

nepotism at its fineness

It's not that uncommon for corporations to have nepotism prohibitions but apparently NCLH is not among them

 

While it's certainly not a small business I don't consider NCLH to be a "Megacorp". I think of it as a mid sized company when compared to the company I worked for.

[ChiefMateJRK]

17 minutes ago, njhorseman said:

While it's certainly not a small business I don't consider NCLH to be a "Megacorp". I think of it as a mid sized company when compared to the company I worked for.

I certainly agree.  It's miniscule compared to the Megacorp I survived and escaped from.  That said, even JuniorCorp sometimes picks up some bad Megacorp habits, like across the board RIFs for whatever reasons (some good, some bad, some ugly).  We had a new CEO come in one year who immediately ordered a hiring freeze followed by a 4% across the board RIF just to make an impact.  We were scrambling to hire new talent within months (which may have been the intent/strategy).  That CEO didn't last for more than a couple of years.  

Edited December 16, 2022 by ChiefMateJRK

[davencl]

Apparently most of the posters here understand NCLH didn't lay anyone off.  They just RIF'd the workforce.  😀  Isn't corporate speak wonderful?

[ChiefMateJRK]

8 minutes ago, davencl said:

Apparently most of the posters here understand NCLH didn't lay anyone off.  They just RIF'd the workforce.  😀  Isn't corporate speak wonderful?

Fired.  Terminated.  RIF'd.  Laid off.  Terminated is terminated.  Like the reference in the movie, some of us "self-terminated" at the end of the journey/odyssey.