German container line Hapag-Lloyd is to enforce cost cuts to handle the coronavirus crisis, reports Reuters.
Why cost cuts?Hapag-Lloyd’s chief executive Rolf Habben Jansen said that the company is to implement cost cuts to take account of the coronavirus crisis.
He said the Hamburg-based firm, the world’s fifth largest shipping operator, would seek cost cuts by a “mid three-digit million euro sum this year.”
What is the reason?“A slump in demand and a bunching of shipments due to a disruption in...
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