Maersk cutting 10,000 jobs in face of ‘worsening market conditions’

Maersk is pre-emptively cutting costs due to market uncertainty. (Photo: Jim Allen/FreightWaves)

Maersk, the world’s second-largest ocean carrier, revealed Friday that it is “intensifying” job cuts in light of the “worsening market conditions” in ocean shipping.

“Given the challenging times ahead, we accelerated several cost and cash containment measures,” said Vincent Clerc, CEO of A.P. Moller-Maersk (Copenhagen: MAERSK-B).

“We are in a very uncertain trading environment with…

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