Hapag-Lloyd

Type
Internal restructuring
Country
Germany
Region
Hamburg;
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Water Transport
50 - Water transport
120 jobs
Number of planned job losses
Job loss
Announcement Date
8 September 2009
Employment effect (start)
1 May 2010
Foreseen end date
31 December 2010

Description

Hapag-Lloyd, a leading liner shipping company, announced its plans to cut 120 jobs in 2010. According to a brief Handelsblatt note, management and works council of Hapag-Lloyd, owned by German company TUI and by a German consortium, agreed on a saving plan to reduce annual costs by EUR 600 million. The plan contains the extension of short-time working in Germany until the end of April 2010 and the cutting of 120 out of 1,100 jobs in 2010. Managers' salaries will be reduced by 20%, employees' wages will be cut by 5%.     

Currently, Hapag-Llyoyd employs a German workforce of 1,100 and a global workforcew of 7,500.   

Sources

  • 8 September 2009: Handelsblatt

Citation

Eurofound (2009), Hapag-Lloyd, Internal restructuring in Germany, factsheet number 69515, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69515.