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Maersk To Announce Major Reorganisation, Job Cuts, Internal Email Says

Published on Sep 1 2020 10:15 AM in Supply Chain tagged: Trending Posts / A.P. Moeller-Maersk

Maersk To Announce Major Reorganisation, Job Cuts, Internal Email Says

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

The reorganisation will impact its Safmarine and Damco brands, which will cease to exist, as well as Hamburg Süd, which Maersk bought in 2017, according to the email reviewed by Reuters.

"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.

Full-Year Guidance

Last month, Maersk issued full-year earnings guidance above its forecast at the beginning of the year and said it expects demand for moving containers at sea to return to pre-COVID levels in the first half of next year.

"Our expectation is that some time during the first half next year we will have volumes back at the level we had in 2019," chief executive Soren Skou told a press conference.

Maersk, which handles one in every five containers shipped by sea worldwide, posted second-quarter revenue and earnings above expectations, as a sharp drop in volumes was partly offset by higher freight rates, lower fuel prices and lower costs.

News by Reuters edited by Checkout. Click subscribe to sign up for the Checkout print edition.

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