04 Nov, 23

World’s Biggest Shipper Cuts 10,000 Jobs

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The shipping giant A.P. Moller-Maersk A/S reported a slide in profit and revenue for the third quarter, forcing the company to take a defensive position by eliminating upwards of 10,000 jobs as falling container rates and waning demand batter the global shipping industry, which could last through 2026. However, the shipper maintained its full-year guidance at the lower end of the previously stated guidance.  “If you look at the order book and what is going to come over the next couple of years, I think we’re probably settling in for a very…

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