News / Maersk reports poor Q3, expects more losses, cuts jobs

Maersk’s liner services recorded a $27m operating loss in the third quarter, as “freight rates declined at an accelerated pace”, it said.

Moreover, with the “market environment worsening” and a group ebit loss expected this quarter, the Danish shipping and logistics group is taking radical action and is in the process of reducing its global headcount by 10,000 – with 3.500 job losses still to come.

CEO Vincent Clerc said that there was a “very uncertain ...