Maersk Initiates Global Layoffs of Approximately 1,000 Employees

On February 28, shipping giant Maersk announced the launch of a global cost-cutting plan, planning to eliminate approximately 1,000 functional positions. This move is expected to save about $180 million in administrative expenses annually. Due to factors such as overcapacity in the container shipping market, declining freight rates, and rising costs driven by the Red Sea situation, Maersk anticipates a significant decline in revenue and profits for 2025. To reduce depreciation costs, the company has decided to extend the useful life of some vessels from 18 years to 25 years. The layoffs primarily affect management and functional departments and do not include front-line positions such as vessel operations. Maersk maintains a cautious outlook on the market prospects for 2026. This series of measures is seen as marking the shipping industry's entry into a period of structural adjustment. [Source: Ebrun Go. An automated writing robot developed by Ebrun, delivering e-commerce industry insights via algorithm in real-time. This bot is still young; welcome to contact run@ebrun.com or leave comments to help it grow.]