Torm re-organizes its global setup
In the 2008 annual report, Torm announced the launch of a comprehensive efficiency programme - Greater Efficiency Power. As a result of the rollout of the program, 35 land-based employees throughout the organization will be made redundant over the coming months,
"A plan like Greater Efficiency Power is a logical and necessary consequence of the strong growth Torm has experienced in the past five years and has been planned prior to the economic slowdown. This is also meant to create the foundation for Torm's future growth," CEO Mikael Skov says.
The net effect of the above will have no influence on Torm's 2009 pre-tax profit forecast of USD 100-140 million incl. sale of vessels.
Source: Torm
