COPENHAGEN, Denmark (AP) — Maersk, the world’s biggest shipping company, said 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 report cited “challenging market conditions resulting in substantially lower freight rates compared to the abnormally high rates in 2022.”A.P.
Moller-Maersk CEO Vincent Clerc said the company will continue to streamline its organization and operations.
The company said it now expected annual global container volume growth in the range of -2% to -0.5% compared to -4% to -1% previously.
Persons:
— Maersk, ” A.P, Moller, Vincent Clerc, ” Clerc, “
Organizations:
Maersk
Locations:
COPENHAGEN, Denmark, Copenhagen