Maersk to Cut 10,000 Jobs as Shipping-Industry Boom Ends

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https://www.wsj.com/business/logistics/maersk-to-cut-more-than-10-000-jobs-as-industry-faces-new-normal-0d95faa1Shipping and logistics giant A.P. Moller-Maersk said it would cut more than 10,000 jobs, as a pandemic-fueled cargo boom has ended, leaving the industry with a surplus of ships and sharply lower freight rates., saw its third-quarter profit plummet to $521 million from $8.88 billion last year. Its main Ocean division posted a quarterly loss for the first time in many years.

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