Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
"Danish conglomerate A.P. Møller-Maersk A/S has announced that its Maersk Line container-shipping unit would cut 4,000 jobs from its land-based staff of 23,000". Maersk Line is stopping the expansion of its fleet by "cancelling options to buy six of the world's largest container ships" and other smaller units to face the challenges posed by the most difficult market downturn since 2009.
The group recently announced it will cut up to 12 percent of its workforce in its oil unit as part of a plan to reduce costs by 20 percent by the end of next year.
Eurofound (2015), Maersk, Internal restructuring in World, factsheet number 85542, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/85542.