Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cargotec laying-off 220 at MacGregor

Cargotec laying-off 220 at MacGregor
Cargotec is laying-off 220 workers at cargo equipment handling specialist MacGregor.

The company said the impact of the lay-offs would be largest in Singapore, Sweden and Norway. The lay-offs represent 8% of MacGregor’s global workforce of 2,750 in 33 countries.

Cargotec said was responding to a weaker offshore market due to the low oil price and the low number of new merchant ship orders. It said it expects achiev annual savings of EUR20m, while it will incur EUR5m in restructuring costs.

“MacGregor is planning to reach savings by reviewing resourcing and making the necessary adjustments with a plan to reduce the use of external workforce and the number of own personnel,” the company said.

“Simultaneously MacGregor continues to have a strong focus on the earlier announced development programmes to improve the internal effectiveness.”