Maersk

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Water Transport
50.20 - Sea and coastal freight water transport
4,000 jobs
Number of planned job losses
Job loss
Announcement Date
4 November 2015
Employment effect (start)
1 December 2015
Foreseen end date
31 December 2017

Description

"Danish conglomerate A.P. Møller-Maersk A/S has announced that its Maersk Line container-shipping unit would cut 4,000 jobs from its land-based staff of 23,000". Maersk Line is stopping the expansion of its fleet by "cancelling options to buy six of the world's largest container ships" and other smaller units to face the challenges posed by the most difficult market downturn since 2009.

The group recently announced it will cut up to 12 percent of its workforce in its oil unit as part of a plan to reduce costs by 20 percent by the end of next year.

Sources

  • 4 November 2015: Les Echos
  • 4 November 2015: Wall Street Journal

Citation

Eurofound (2015), Maersk, Internal restructuring in World, factsheet number 85542, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85542.