Danish ferry owner Faergen is making 400 workers redundant after losing a contract.
Spokeswoman Annette Timmermann told TV2 that the move is due to rival Mols-Linien taking over routes to Bornholm on 1 September.
Faergen is also moving its head office from Ronne to Svendborg.
Some of the employees targeted for lay-off have been offered the chance to move, with several taking up the offer.
Mols-Linien is also looking to recruit as it prepares to take on the work.
