Germany: MV Werften to cut 1,200 shipyard jobs
In a two-minute video, the CEO of MV Werften (shipyards), Peter Fetten, informed the workforces of the three shipyards in Wismar, Warnemünde and Stralsund that more than a third of the 3,000 jobs are to fall victim to a “restructuring programme.” Around 1,200 jobs are at risk—a bitter blow for the workforces, as the shipyard industry is one of the most important employers in the region.
MV Werften GmbH' shipyards in Rostock, Mecklenburg-Western Pomerania (Credit: Sebastian Krauleidis via Wikimedia Commons)
The future of the remaining workforce is also on the line as the owner of the shipyard is in financial difficulties. The three MV shipyards belong to the investment holding company Genting Hong Kong Ltd., which is mainly active in cruise shipping and also in the resort hotel, casino, travel events, aviation and shipyard businesses. The main shareholder and chairman of the board is billionaire Lim Kok Thay, who also operates large palm oil plantations in Malaysia.