Maersk has confirmed that there will be some job cuts at its headquarters in Copenhagen, Denmark, and other offices around the world, the Lloyd’s Daily reported.

In order to reduce costs and increase efficiency, the company is expected to lay off mainly in Copenhagen headquarters, the Dutch company and Hamburg South America, a subsidiary of Germany.

Maersk has made it clear that cost saving is a top priority to support Maersk’s development strategy and group value.

When Maersk acquired Hamburg South America in 2017, it also made layoffs. Considering the deeper integration between Hamburg South America and Maersk, perhaps there will be layoffs in the future.

Earlier this year, Maersk was laying off 1200 employees when it shut down its container industry company in Chile.