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Maersk to cut jobs as part of major reorganisation, internal email says

Shipping group Maersk will cut job cuts as part of a major reorganisation, an internal email sent to Maersk employees shows.

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Maersk | job cut | Shipping

Reuters  |  COPENHAGEN 

maersk

COPENHAGEN (Reuters) - group will cut job cuts as part of a major reorganisation, an internal email sent to employees shows.

Maersk, which handles about one in five containers shipped worldwide, has been under pressure from investors to speed its transformation from an unwieldy conglomerate.

The company sold its oil and gas assets in 2017 to Total as part of efforts to become a more streamlined company focused on its container and in-land logistics business for large customers such as Walmart and Nike .

The integration of its Damco freight forwarding business and Africa-focused carrier Safmarine will take place by the end of this year, with its Hamburg Sud operation also affected by the shake-up, the email said.

"Simplifying the organisation will regrettably impact jobs due to duplicate roles and roles that will no longer be needed," Chief Commercial Officer Vincent Clerc said in the email.

declined to comment on the internal email. The email gave no detail on the number of job cuts or employees affected.

Hamburg Sud, will remain a separate brand but its back office will be rolled into that of Maersk, Clerc said in the email.

Maersk's share price has nearly doubled since March, but is still a fifth below a peak three years ago. They were trading 0.1% up at 9,558 crowns by 0745 GMT.

 

(Reporting by Jacob Gronholt-Pedersen and Euan Rocha; Editing by Jason Neely and David Goodman)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, September 01 2020. 14:26 IST
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