Danish shipping giant Maersk said it will cut at least 10,000 jobs as net profit and revenues decline in the third quarter due to a sharp fall in freight rates.
It also announced that sea freight results had reached the break-even point due to the continued difficult market conditions that led to a significant decrease in freight rates.
Therefore, it is in the process of reducing its workforce from 110,000 jobs in January of this year to less than 100,000 jobs, which will lead to saving $600 million next year compared to this year.
