Maersk Supply Service Cuts More Jobs
Maersk Supply Service will be reducing its onshore organisation by up to 25 percent in, as the company says, response to the continued market decline in the offshore industry and the recently announced vessel divestment plans and offshore staff reduction.
In August Maersk Supply Service announced that it is divesting up to 20 vessels from its legacy fleet and making around 400 crew members redundant.
Despite extensive cost reductions in the past years the decreasing market demand in the offshore industry continued to put pressure on earnings, and in Q2 Maersk Supply Service recognised a loss, including impairments, of USD 106 million.
“We realize that the announcement is very unsettling for our employees. This is an unfortunate, but necessary step to ensure our organisation reflects the current market reality. Our top line has dropped by 40% over the past 2 years, and as a consequence we have a significantly reduced vessel and crew pool. A rightsizing of our organisation is necessary to protect the long-term sustainability of our business,” says CEO of Maersk Supply Service, Jørn Madsen.
The broadbased rightsizing is expected to concern all onshore functions of Maersk Supply Service. Up to 65 onshore positions will be affected globally, the company informed.
Source: Subsea World News
