ShippingWatch

Wärtsilä in large-scale layoffs due to yard crisis

Fewer newbuildings and the standstill in the offshore sector mean that Wärtsilä is cutting 550 jobs. This announcement arrives in relation to the first quarter interim report, which shows a decline in the operating result.

The Finnish engine manufacturer Wärtsilä is removing 550 jobs.

This is a measure to save money during hard times where fewer ships are being constructed than before, all while demand from offshore players has basically disappeared because of the low oil price, informs the company in relation to the presentation of the first quarter interim report 2016.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs