Hapag-Lloyd modifies cost structure
Package of measures with Hapag-Lloyd shall reduce costs by EUR 600 million At the struggling container shipping company Hapag-Lloyd (Hamburg) no stone will left unturned. Executive management and staff representatives of the enterprise have signed a company agreement upon the implementation of a strict cost-cutting programme on Tuesday. The package of measures shall reduce cost expenditures by around EUR 600 million per annum. According to the company agreement around 10 per cent of the jobs in Germany will be cut before the end of 2010. This would affect 120 of the current 1,100 employees. The short-time work that has been started in May is to be prolonged until April 2010. Moreover, staff and management accept pay cuts. Quelle: Österreichische Verkehrszeitung |