Maersk is a shipping and logistics company that specializes in supply chain management, port operations, freight forwarding, warehousing and container shipping. The company was founded in 1904 (119 years ago) with its headquarters in Copenhagen, Denmark.
As of 2022, Maersk had an annual revenue of $81.5 billion USD, making it one of the largest shipping companies in the world.
According to recent reports, Maersk is looking to cut about 3,500 jobs due to declining shipping prices. About 2,500 of the workforce reduction has been scheduled for this year, with the rest to happen in 2024. This restructure will reportedly save the company over $700 million USD in 2024.
Maersk announced a layoff of 6,500 employees earlier in the year, with this new announcement it brings their total reduction to 10,000.