Carnival Corp has slimmed its workforce in an effort to conserve cash as it weathers the Covid-19 storm along with the rest of the cruise sector.

The Arnold Donald-led company on Thursday announced it was implementing a "combination" of layoffs, furloughs, reduced work hours and salary reductions companywide, including senior management.

"These moves will contribute hundreds of millions of dollars in cash conservation on an annualized basis," the New York-listed owner of 104 ships said in an update on how it is coping with the pandemic.