Carnival Corp. announces 820 layoffs in Florida.

Carnival Corp. announced Thursday a series of layoffs and furloughs that will affect more than 1,300 workers at its Florida offices.

In a filing with the Securities and Exchange Commission, the world’s largest cruise company announced 820 positions in Florida would be eliminated out of a workforce of roughly 3,000 employees, with another 537 Florida employees placed on furlough.

Furloughed employees would potentially return once cruising resumes. That works out to more than 45% of its local workforce. In addition to the 3,000 local employees, Carnival employed about 120,000 workers worldwide prior to the onset of the coronavirus pandemic.

“While these moves will contribute hundreds of millions of dollars in cash conservation on an annualized basis, we are saddened by these decisions and are sorry that we must take these actions,” the company said in a statement. “Our employees are the foundation of our company, and it is unfortunate that many talented people are being impacted, through no fault of their own.”

The announcements follow similar staff reductions by Norwegian Cruise Line Holdings Ltd., which has furloughed 20% of its staff; and Royal Caribbean Cruises Ltd., which has shed 26% of its workforce.

Last month, Carnival completed financing efforts that netted $6.4 billion in additional cash. But to further strengthen its cash position, the company said it was conducting “a combination of layoffs, furloughs, reduced work weeks and salary reductions across the company, including senior management.”

Cruise stocks have fallen about 75% year to date, but appear to have bottomed amid announcements of stronger financial positions. And earlier Thursday, Norweign Cruise Line Holdings Ltd. reported it was already seeing healthy bookings for the fourth quarter of 2020 and into 2021.