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Displaying items by tag: Job Losses

Shipping container giant, Maersk revealed that it will make around 2,000 staff redundant due to changes to the organisation linked to the integration of Damco into its Ocean Logistics business and the removal of the separate Safmarine brand, which it announced last month.

In a trading update for its third-quarter (Q3) 2020 performance and 2020 full year guidance adjustment, in which the world’s largest container shipping group also reported better-than-anticipated volumes and freight rates in the past three months.

Maersk said it “expects to take a restructuring charge of around US$100m in Q3 2020 related to the redundancies of approximately 2,000 employees as the consequence of the changes to the organisation in Ocean and Logistics & Services announced on 1 September 2020”.

With parent group A.P. Moller-Maersk announcing its was upgrading its full-year guidance for 2020 based on preliminary Q3 figures and the current outlook for Q4, Søren Skou, CEO of A.P. Moller - Maersk said: “A.P. Moller - Maersk is on track to deliver a strong Q3 with solid earnings growth across all our businesses, in particular in Ocean and Logistics & Services. Volumes have rebounded faster than expected, our cost have remained well under control, freight rates have increased due to strong demand and we are growing earnings rapidly in Logistics & Services.

More here LloydsLoadingList reports. 

Published in Ports & Shipping

Some 1,100 workers at P&O Ferries are to be made redundant as part of a plan to make the business “viable and sustainable”, the company said.

The proposal, reports the Irish Examiner, involves more than a quarter of the workforce losing their jobs.

A spokesman for P&O Ferries said: “Since the beginning of the crisis, P&O Ferries has been working with its stakeholders to address the impact of the loss of the passenger business.

“It is now clear that right-sizing the business is necessary to create a viable and sustainable P&O Ferries to get through Covid-19.

“Regrettably, therefore, due to the reduced number of vessels we are operating and the ongoing downturn in business, we are beginning consultation proceedings with a proposal to make around 1,100 of our colleagues redundant.”

Published in Ferry

#JobLosses - Sixty jobs are set to go at Harland & Wolff, the losses represent approximately one third of the east Belfast engineering firm's permanent workforce, reports BBC News.

Discussions are soon to get underway with unions.

The company is blaming the move on a downturn in the offshore oil and gas sector. The firm stopped shipbuilding in 2003.(Afloat, adds the last vessel built was the Anvil Point).

Its activities now include the repair and refurbishment of vessels ands oil rigs.

Unions have described the news as "the latest bad news story for manufacturing in Belfast and Northern Ireland".

They added the decision "reflects the recent decline in the company's order books". For more on this story, click here.

Published in Belfast Lough

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