Maersk to lay off 2,000 in business shake-up, lifts outlook on improving demand

, said on Tuesday demand was recovering faster than expected and lifted its earnings outlook, while also announcing plans to cut 2,000 jobs as it streamlines to cut costs.

“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,” Chief Executive Soren Skou said in a statement. 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 company said.

The company expects restructuring costs of around $100 million in the third quarter related to the redundancies.

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