Subscribe to RSS feedHapag-Lloyd cuts more jobs and pay
by
Felicity Landon
—
last modified
Aug 20, 2009 03:52 PM
SEVERE internal cost-cutting measures being put in place by struggling container line Hapag-Lloyd include salary cuts of between 10% and 20%, while “further headcount adjustments” are being considered.
In addition, a strict hiring freeze will continue through 2010, according to an internal memo from the line’s America region seen by Lloyd’s List.
All level one, two and three staff worldwide have been requested to accept a salary...
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