Maersk to slash 10,000 jobs, citing tough container trade env

Maersk, the world’s biggest shipping company, said on Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics services. The company said the move would result in savings of $600 million in 2024. The announcement was made as Copenhagen-based Maersk presented its quarterly report, which listed profits before taxes at $691 million, down from $9.1 billion for the same period last year. It cited “challenging market conditions resulting in substantially lower freight rates compared to the abnormally high rates in 2022.”

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