Danish shipping giant Maersk to restructure despite Q2 profits

Source: Xinhua| 2020-09-01 20:43:51|Editor: huaxia

COPENHAGEN, Sept. 1 (Xinhua) -- Restructuring at Maersk is expected to affect up to 27,000 employees around the world, with some even facing dismissal, said the Denmark-based international transport and logistics group in a press release on Tuesday.

The restructuring will see Maersk cease to market South African shipping company Safmarine and Dutch freight forwarding company Damco as independent brands from 2020, instead of incorporating them as an integral part of Maersk, said the press release.

Nevertheless, the number of dismissals is expected to be revealed in the third quarter accounts.

In 2019, Maersk had over 83,000 employees across the world.

The restructuring is being made because Maersk predicts there will be a large drop in transport during the COVID-19 pandemic and comes two weeks after second-quarter accounts showed that despite fewer freight assignments the company had made a massive profit of 2.8 billion Danish Kroner (450.3 million U.S. dollars).

According to Maersk's Executive Vice President Vincent Clerc, the changes are made in order to provide a better service to customers.

"Needs in the supply chain are increasing the demand for more forms of transportation. To meet these needs, we bring our company's expertise and capacity even closer together. Taking these steps is the key to accelerating our transformation," said Clerc in the press release. Enditem