MacGregor set to lay-off a further 10% of its workforce

MacGregor, a unit of Cargotec, said that as part of planned “efficiency improvement actions” it might reduce its workforce by 190 globally out of 1,876 employed at the end of September.

The measures, which would include the split of Smart Ocean Technology division into Cargo Handling division and Advanced Offshore Solutions division, are set to save EUR13m annually.

It said cost savings were being sought through restructuring, potentially with personnel reductions, especially the operations in Norway, Germany, China and Singapore.

"These planned measures are necessary to manage the continuing challenging market situation and to maintain our leading position in the maritime cargo flow, mooring and load handling markets,” said Michel van Roozendaal, president of MacGregor.

“As a result of these difficult but necessary actions MacGregor will be able to continue to develop the company to be the leader in smart cargo and load handling.”

It is not the first time that MacGregor has undertaken job cuts and in October 2016 the company said it was reducing its headcount by 260.

As of end September 2016 the company had 2,355 staff globally meaning that including the proposed 190 lay-offs MacGregor would have reduced its headcount by 669 staff or more than 28% since September last year.

MacGregor recently announced it was moving its global headquarters to Singapore.