Maersk to lay off 2,000 in industry shuffle

On Tuesday, container shipping line Maersk has issued a statement saying demand was recovering faster than expected and lifted its earnings outlook. However, it also announced plans to cut 2,000 jobs as the company is streamlining to cut costs.

Maersk, which handles about one in five containers shipped worldwide, said that though cargo volumes were still down on last year they had picked up more than forecast after falling sharply at the height of the coronavirus pandemic a few months ago.

Chief Executive Soren Skou: “A.P. Moller - Maersk is on track to deliver a strong Q3 with solid earnings growth across all our businesses, in particular in Ocean and Logistics & Services. Volumes have rebounded faster than expected, our costs have remained well under control, freight rates have increased due to strong demand.”

According to an article on reuters.com, volumes in Maersk’s Ocean-division declined by around 3% in the third quarter compared to the same period last year, above an expected mid-single digit contraction. The Danish company said it would cut 2,000 positions as a result of a major reorganisation announced last month, where it seeks to integrate its seaborne container and in-land logistics businesses.

Maersk currently has around 80,000 employees.


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