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UASC CEO: Mergers does not necessarily entail layoffs

The new merger between UASC and Hapag-Lloyd needs to turn a profit, but this will not necessarily happen through layoffs, UASC CEO Jørn Hinge tells Arabian media The National.

Photo: UASC

Hapag-Lloyd and UASC will be merged at the end of this year, giving rise to what will be the world's fifth-largest container carrier.

The merger will provide savings of approximately USD 400 million for the combined carrier. And this money will come from economies of scale, not the termination of jobs, says UASC chief executive Jørn Hinge.

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