Icelandic container line Eimskip has announced "streamlining measures" on Tuesday that will see 73 staff made redundant.
Of the full-time employees to lose their jobs, 47 of them are based in Iceland.
All layers of the company are involved, including management, as it adjusts to the coronavirus pandemic.
Head of marketing and communications Edda Rut Bjornsdottir has been promoted to executive vice president of an integrated division of human resources, marketing and communications.
