Maersk to cut more than 10,000 jobs in response to industry's new normal Fer House

With the shipping boom over, Maersk's third-quarter profit plummeted 94 percent year-on-year, announcing the opening of major layoffs to cut costs. On Friday, shipping giant Maersk announced the company's third-quarter results, with pre-tax profit plummeting 94 percent year-on-year to $691 million, and said it would lay off at least 10,000 workers in the face of overcapacity, rising costs and weak prices.

Maersk, which had 110,000 employees as of January this year, said it is cutting its workforce to below 100,000 and expects to save $600 million by the end of this year. Maersk has already cut about 6,500 jobs and said "all offices" around the world were affected by its cost-cutting measures.

Maersk is considered a bellwether for global trade. Falling container rates and weakening demand have hit the global shipping industry this year, and analysts expect this could continue until 2026.

We have also worked with shipping companies, including Maersk. The main products we export are kitchen organizer series (Bathroom Laundry Storage Baskets, Modern Napkin Holder, Kitchen Organizers With Storage Drawer, Trolley Service Shelving Cart)； tabletop series,；home organizer series and bathroom series products.

In order to cope with the ever-changing foreign trade situation, our company constantly develops new customers and new products. With a positive and innovative attitude, we lead the industry in innovation.