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AMKBY / Maersk cuts thousands of jobs as shipping demand sinks

Maersk, the world's largest shipping group, dropped over 9% in early trading after confirming it was cutting 10,000 jobs and that operating profit would be on the lower end of guidance. Weak demand for shipping containers and lower freight rates have led the Danish company to place its full-year pre-tax profit forecast at the lower end of its US$9 billion to US$11 billion range. Read More

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AMKBY

Posted: Nov 3 2023, 04:36

Author Name: Proactive Investors

AMKBY News

By CNBC
November 3, 2023

Shares of Maersk plunge 18% as shipping giant announces 10,000 job cuts, says profit will be at lower-end of guidance

Maersk, a bellwether for global trade, said it was facing subdued demand and inflationary pressures.

By Barrons
November 3, 2023

Maersk Cuts Jobs as Profit Collapses. It's Bad News for Global Trade.

The shipping Giant's third-quarter Ebitda of $1.9 billion represents a fraction of last year's $10.9 billion.

By Market Watch
November 3, 2023

Maersk to cut 10,000 jobs as shipping firm revenue slides

Global shipping giant A.P. Moeller-Maersk on Friday outlined plans to lay off at least 10,000 staff in a desperate bid to cut costs following a collap

By Proactive Investors
November 3, 2023

Maersk cuts thousands of jobs as shipping demand sinks

Maersk, the world's largest shipping group, dropped over 9% in early trading after confirming it was cutting 10,000 jobs and that operating profit wou

By Bloomberg Markets and Finance
November 3, 2023

Maersk to Cut 9% of Workforce as Freight Rates Decline

Maersk CEO Vincent Clerc says the company is “getting out cost base in order, we're getting fit for what could be leaner times.” The company plans

By CNBC
October 12, 2023

Shipping giant Maersk to add SpaceX's Starlink internet to over 330 ships by early next year

Danish logistics giant Maersk is adding SpaceX's Starlink to more than 330 container ships.

By Reuters
October 4, 2023

Egypt, Maersk's C2X sign agreement worth up to $3 bln for production of green fuel - statement

Egypt and Maersk's C2X signed a new framework agreement worth up to $3 billion for the production of green fuel and its derivatives in the Suez Canal

By Reuters
September 19, 2023

Shipping rivals CMA CGM, Maersk to collaborate on green fuels

Container shipping giants CMA CGM and Maersk said on Tuesday they will cooperate in efforts to reduce emissions in the sector, including by supporting

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