Hanjin Shipping will lay off about 400 land-based employees in South Korea as it fights for survival.
The news follows on from other redundancies around the world.
The shipping line filed for court receivership at the end of August becoming the largest containerline bankruptcy in history. It has since started to try and reposition itself for a future as an intra-Asia operator, Splash understands, ahead of presenting its rehabilitation plans to a court in Seoul in December.
Meanwhile, compatriot Hyundai Merchant Marine (HMM), which has already intimated it might bid for Hanjin’s transpacific operations, has also said it is looking at tabling a bid for Hanjin’s 25% stake in the Spanish terminal in Algeciras.