Cargotec’s MacGregor is planning to lay off around 100 employees at MacGregor Uetersen site in Germany by year’s end, citing weak market demand as the main reason behind the layoffs.
MacGregor says that market situation has deteriorated due to the low oil price and low number of new merchant ship orders.
The company expects to save around EUR 7 million as of 2016 by reducing the workforce at MacGregor Hatlapa GmbH & Co. KG, a producer of winches, steering gear and compressors.
The initiated measures are estimated to create restructuring costs of EUR 5 million in 2015.
Back in April, Cargotec announced plans to lay off 220 workers at MacGregor, a specialist in the construction of marine and offshore cargo-handling equipment.