Shipping giant Maersk to lay off 2,000 employees

Source: Xinhua| 2020-10-13 19:34:27|Editor: huaxia

COPENHAGEN, Oct. 13 (Xinhua) -- Shipping and logistics giant Maersk announced nearly 2,000 redundancies in a statement to the Copenhagen Stock exchange on Tuesday.

Maersk currently has a workforce of approximately 80,000 worldwide.

The dismissals come as a consequence of organizational changes in the company's Ocean and Logistics & Services stores and will affect activities with container vessels, according to the statement.

Details of the redundancies were also accompanied by news that Maersk had raised its profit expectations for 2020 accounts.

Previously, the company had expected that the result from primary operations for the whole year would garner a profit of between 6 and 7 billion U.S. dollars. However, expectations have now risen to 7.5 to 8 billion dollars.

Trading conditions for the coming quarters might be affected by higher volatility due to market disturbances induced by or potentially induced by COVID-19, the statement added.

However, Maersk expected that an improved business climate and a shorter negative list will create more opportunities.

"We continue to see significant growth potential in China as the economy transforms and the composition of trade evolves towards higher value-added goods," said Jens Eskelund, managing director of Maersk China Ltd. Enditem

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