Reorganization on-the-go

Maersk confirms job cuts

by Port News Editorial Staff

Maersk will cut two thousand jobs as part of the restructuring plan presented last month. The company itself announced this, pointing out that the cuts will affect shipping and logistics activities following the cancellation of the Safmarine and Damco brands and Hamburg Sud’s new global set up. The measure will affect 2.5% of the staff they currently employ.

The shipping line also provided an update on its current financial performance. The third quarter is looking good: revenues of $9.9 billion and EBITDA of $2.4 billion are expected. The outlook for the fourth quarter also looks set to remain stable.

Translation by Giles Foster