3 November 2023
Amid a grim global economic downturn, Møller-Maersk, a shipping behemoth, is taking drastic action by axing 10,000 jobs in response to plummeting demand. The Danish giant, once thriving, has already eradicated 6,500 positions and plans to ruthlessly cut 3,500 more by 2024. This stark 10% workforce reduction is a desperate measure to counter collapsing prices and rampant overcapacity. It’s a bleak indicator of the post-pandemic “new normal” that’s crippling global trade.