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Maersk Line to Cut Capacity and Jobs as Global Demand Sags
By and
Updated on
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Company says steps are needed to maintain market position
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Shares rise in Copenhagen as investors welcome strategy
A.P. Moeller-Maersk A/S is scaling back capacity and cutting jobs in the world’s largest shipping line to adapt to a drop in demand.
The Danish company, which last month lowered its profit forecast for 2015 citing a gloomier outlook for the global shipping market, will shed 4,000 jobs in its Maersk Line unit as part of a program to “simplify the organization,” it said in an e-mailed statement on Wednesday.
