Cargotec said “preliminary estimates” indicated approximately 260 full-time equivalent positions could go as part of “efficiency improvement actions” that included restructuring of operations and statutory cooperation negotiations.
MacGregor, which supplies engineering solutions and services for handling marine cargoes and offshore loads, employed 2,355 staff globally at the end of September. It said the cost-cutting measures would mostly affect operations in Norway, China, Sweden, Finland and Singapore and would likely result in restructuring costs in the final quarter of 2016 and in 2017.
MacGregor said the situation was forced on it by prevailing market situations it described as “challenging” and “unprecendented” as well as the need to protect its long-term competitiveness.
The low oil price had driven investments in the offshore market to “unprecedentedly low levels” which had in turn affected the demand for offshore load handling solutions. Demand for service had declined as parts from decommissioned ships are increasingly being used as spare parts while overcapacity in global merchant ship markets meant low new vessels orders which had lowered demand for MacGregor's products and solutions.
MagGregor president Michel van Roozendaal attempted to put a brave face on the situation.
"Even in this challenging market situation, MacGregor is the leading and the strongest player in the maritime cargo flow, mooring and load handling markets," he said..
“As a result of these difficult but necessary actions MacGregor will become more agile. We have strong competence to help our customers operate more efficiently."
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