DSV Panalpina's integration will cost up to 4,000 jobs

The ongoing integration of Panalpina, which DSV acquired last year, will cost between 3,000 and 4,000 jobs, says CFO Jens Lund.

Photo: Ivan Boll

The merger of DSV and Panalpina must lead to cost-cutting, and in order to reach the target, between 3,000 and 4,000 jobs will be cut, explains DSV Panalpina Chief Financial Officer Jens Lund to Dow Jones.

"It's down to efficiency. Panalpina was still making a small margin, but it was not competitive… Before you can start to grow, you right-size the business. If you don't have the right structure, then there will be a lot of inefficiency, and you know what? Customers don't want to pay for that," Lund told the news agency.

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