Hapag-Lloyd to cut more than 1,000 jobs after UASC merger

Some 1,300 jobs are expected to be lost as Hapag-Lloyd completes its merger with UASC, the shipping line said this week. That’s about 12% of its nearly 11,000-strong workforce – although 2,100 sea-based jobs are safe. The integration process will begin in about eight weeks, and finalised by the end of the third quarter. Reuters has the story.