Listing Hapag-Lloyd announces more cuts
by
Friederike Krieger - Lloyd's List
—
last modified
Aug 04, 2009 11:54 AM
German container line Hapag-Lloyd is to extend its cost-cutting program in an effort to save €560m (US$800m) this year.
According to spokesman Klaus Heims, the company plans to cut wages and bonuses, scrap extra holiday payments and extend short-time working.
To date, about 10% of the 1200 staff at Hapag-Lloyd’s headquarters have been put on short-time working under a previously...
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