New redundancies are on the cards at Maersk, in addition to the 6500 job cuts since the beginning of the year.
The big carrier, according to its market report on its third quarter results, is planning to cut another 3,500 jobs, 2,500 of which over the next few months. The aim is to bring the workforce down to below 100,000. The company expects to save $600 million next year from this.
Maersk Line recorded a significant downturn in performance in the reporting period, closing the July-September quarter this year with revenues of $ 12.1 billion, practically half they earned in the same period in 2022, when revenues stood at over $22 billion.
The company’s EBITDA totaled $1.8 billion compared to $10.0 billion in Q3 last year. Its EBIT was a positive $538 million compared to an operating profit of $9 billion in the July-September 2022 period.
Cargo volumes carried by Maersk Line’s container fleet were up 5% year-on-year in the third quarter this year, to 3,166 million FEU. The average freight per 40ft box was $2,095, -58% compared to $5,000 in the July-September period last year. Its EBIT was down to $27m, from the $8.7bn posted in Q3 2022.
Translation by Giles Foster
