Maersk, the world’s largest containerline, is cutting staff as it focuses on profitability and free cash flow.
Jobs are set to be axed at the company’s Copenhagen headquarters as well as overseas, with recent acquisition, Hamburg Sud, expected to see its headcount reduced noticeably.
Maersk officials would not be drawn on the scale of the redundancies when contacted by Splash today.
In a statement, Maersk said: “We have announced internally the need to save cost in our head office functions and that it will also lead to reductions both in and outside Denmark. We do not yet know the exact extent or how many are affected, but this is something we are currently discussing as part of the process intended for it.
“The savings are a natural part of the ongoing priority, where we focus on supporting our strategy and creating value for our customers.”
At A.P. Moller – Maersk’s recent third quarter results, where revenues declined but EBITDA improved, CEO Søren Skou said, “We will continue our focus on profitability and free cash flow in Q4 and into 2020.”