Maersk Line, the world's largest container shipping company, said Friday it will lay off 400 employees at its global corporate centers in a bid to decentralize operations and improve efficiency to counter over-capacity in the industry and weak freight rates.

This corresponds to 18% of the 2,200 people currently employed in the centers.

The aim of the re-organization is to achieve faster decision making and relocate execution and service tasks to dedicated country offices in order to get them closer to the customers, the company, a unit of Danish industrial conglomerate A.P. Moller-Maersk A/S (MAERSK-B.KO), said in a statement.

Maersk Line, which is currently sailing at losses due to over-capacity in the industry and weak freight rates, has a total of 25,000 employees worldwide.

- By Flemming Emil Hansen, Copenhagen Bureau, Dow Jones Newswires; +45 33 12 44 88; flemming.hansen@dowjones.com

AP Moller Maersk (PK) (USOTC:AMKBF)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more AP Moller Maersk (PK) Charts.
AP Moller Maersk (PK) (USOTC:AMKBF)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more AP Moller Maersk (PK) Charts.