AP Møller-Maersk, the world’s largest container shipping line has said it will eliminate staff at its head offices and elsewhere
Maersk confirmed the cuts in a statement but did not comment on the exact number of employees who would face redundancy.
“We have announced internally the need to save costs in our head office functions and that it will also lead to reductions both in and outside Denmark," the statement said.
"We do not yet know the exact extent or how many are affected, but this is something we are currently discussing as part of the process intended for it. The savings are a natural part of the ongoing priority, where we focus on supporting our strategy and creating value for our customers.”
Speculation on the extent of the cuts has been rampant, with reports claiming the number of jobs lost could be in the hundreds.
Maersk reported losses earlier this year. In Q1 2019, net losses totalled US$659M; the company posted US$2.73Bn in profits in 2018.
In recent weeks Maersk has seen two big departures among its executive staff: Søren Toft, the company’s former chief operating officer joined Mediterranean Shipping Company (MSC) as chief executive, and chief financial officer Carolina Dybeck Happe stepped down to join General Electric as CFO. Ms Dybeck Happe joined Maersk less than a year ago, in January 2019.