Maersk to slash 10,000 jobs, citing the difficult container trade environment

DENMARK

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. The report cited “challenging market conditions resulting in substantially lower freight rates compared to the abnormally high rates in 2022.”