World’s largest container shipping company cuts 2,000 jobs

Although the world’s largest shipping company expects more profit again, the old plan remains: 2,000 people should lose their jobs. This also applies to a German shipping company.

The world’s largest container shipping company Maersk has raised its profit prospects thanks to an unexpectedly strong recovery in demand in the Corona crisis, but at the same time announced the cut of 2,000 jobs.

“The volumes have recovered faster than expected, our costs have remained well under control, the freight rates have risen due to the strong demand,” CEO Soren Skou explained on Tuesday the reasons for the more optimistic outlook. For the full year he now expects an operating profit (Ebitda) of between 7.5 and eight billion dollars, instead of the previously forecast six to seven billion euros.

Maersk: Oetker shipping company Hamburg Süd also hits an austerity course

Nevertheless, Maersk wants to cut 2,000 jobs as part of its planned renovation. In September, the group, with a total of around 80,000 employees, announced that it would pool its container logistics at sea and on land.

At that time, Maersk only stated that there would be job cuts, the shipping company had failed to provide a specific figure. The job cuts cost Maersk around $ 100 million in the third quarter.

The conversion also affects the shipping company Hamburg Süd, which Oetker took over in 2017 and employs 4,500 people. Although it is to be retained as a brand, the technical processing is to be merged with that of Maersk.


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