Maersk Line, the world’s largest container shipping company, has announced plans to cut at least 4,000 employees by the end of 2017 as part of a major company transformation.
The organisation, which currently has 23,000 land-based staff, says the cuts will be the result of corporate restructuring and an on-going push towards greater automation and digitalisation.
“We are on a journey to transform Maersk Line. We will make the organisation leaner and simpler,” Søren Skou, CEO of Maersk Line said in a statement.
“We are fewer people today than a year ago. We will be fewer next year and the following year. These decisions are not taken lightly, but they are necessary steps to transform our industry.”
The company plans on minimising redundancies by managing natural attrition within its workforce.
The decision comes after a major profit downturn in the global shipping industry – the worst since the Global Financial Crisis (GFC).
The GFC was the last time Maersk Line cut staff numbers, shedding about 5,000 people from its operations.
Source: Human Capital