job cuts

Shipping Giant To Cut Jobs in Major Reorganisation

  • Shipping group Maersk will cut jobs as part of a major reorganisation, an internal e-mail sent to Maersk employees shows.
  • The reorganisation will impact its Safmarine and Damco brands, which will cease to exist, as well as Hamburg Süd, which Maersk bought in 2017.
  • The company did not say how many would be laid off and the internal email also gave no detail on the number of job cuts.

Maersk will cut jobs in a major shake-up that will affect a third of the shipping giant’s staff as it seeks to...

https://mfame.guru/shipping-giant-to-cut-jobs-in-major-reorganisation/

United Cargo spared brunt of airline’s job cuts

United Airlines workers place box of seafood on conveyor belt to load plane on sunny day. United announced big job cuts.

United Airlines’ cargo division will lose fewer than 50 positions as part of a major reduction in workforce aimed at creating a smaller airline that can better cope with the crippling loss of passenger business caused by the coronavirus pandemic.

Chicago-based United (NASDAQ: UAL) on Wednesday informed employees that it planned to eliminate 16,370 jobs beginning Oct. 1. The involuntary furloughs are 20,000 fewer than officials estimated in early July because so many workers took voluntary...

https://www.freightwaves.com/news/united

American Airlines to chop 19,000 jobs amid travel slump

A silver American Airlines plane with red, white and blue striped tail rolls down taxiway. American plans to cut 19,000 jobs.

American Airlines (NASDAQ: AAL) notified employees in a memo Tuesday that it plans to eliminate 19,000 jobs on Oct. 1, unless Congress renews the emergency coronavirus assistance that helped airlines retain staff for the past six months.

The news comes a day after Delta Air Lines (NYSE: DAL) indicated involuntary separations are coming for 1,941 pilots, according to Reuters.

Airlines, struggling to survive, are transforming into much smaller organizations with passenger travel not expected to...

https://s29755.pcdn.co/news/american-airlines-to-chop-19000-jobs

Daimler previews Q2 earnings upside surprise

Yellow Western Star truck on aroad

Daimler AG (OTC: DDAIF) will report better-than-expected second-quarter earnings next Thursday, July 23. But job cuts are a big part of the brighter picture.

“We took proactive decisions on costs and spending and focused intensely on working capital management,” said CEO Ola Kaellenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG.

“But, there is still much to do. Our systematic efforts to lower the break-even of the company by reducing costs and adjusting capacity will...

https://s29755.pcdn.co/news/daimler-previews-q2-earnings-upside-surprise

American Airlines warns of 25,000 job cuts

A baggage worker transfers bags from a cart to a conveyor belt for loading onto a plane. Ground workers at American Airlines are among thousands of employees who could lose their jobs.

American Airlines (NASDAQ: AAL) on Wednesday informed 25,000 employees that their jobs could be eliminated after Oct. 1, when federal money covering wages for airline workers runs out.

Company executives say furloughs are necessary because the airline will have an oversupply of workers as it operates a significantly reduced schedule to match the downturn in travel caused by the coronavirus pandemic.

“We hate taking this step, as we know the impact it has on our hardworking team members. From the...

https://s29755.pcdn.co/news/american-airlines-warns-of-25000-job-cuts

Volvo Group cutting 4,100 white-collar positions in second half

Volvo Trucks array

Sweden’s Volvo Group (OTC: VLVLY) is cutting 4,100 white-collar jobs globally in the second half of the year, responding to ongoing impacts of the COVID-19 pandemic. 

“The Corona epidemic and the global measures taken to fight it has led to a market situation impacting our industry severely. The effects are expected to be lower demand going forward and we need to continue to adjust our organization accordingly,” Martin Lundstedt, president and CEO of the Volvo Group, said on Tuesday, June 16.

Volv...

https://www.freightwaves.com/news/volvo-group-cutting-4100-white-collar-positions-in-second-half

BREAKING NEWS: Volvo Group cutting 4,100 white-collar jobs

Volvo VNL on highway

Sweden’s Volvo Group is cutting 4,100 white-collar jobs globally in the second half in response to ongoing impacts of the COVID-19 pandemic. About 15% of the cuts will be contractors.

“The Corona epidemic and the global measures taken to fight it has led to a market situation impacting our industry severely. The effects are expected to be lower demand going forward and we need to continue to adjust our organization accordingly,” Martin Lundstedt, President and CEO of the Volvo Group, said...

https://www.freightwaves.com/news/breaking-news-volvo-group-cutting-4100-white-collar-jobs

Meritor partially restores pay cuts while trimming salaried jobs

Meritor factory workers

Commercial vehicle drivetrain supplier Meritor Inc. (NYSE: MTOR) will cut 230 salaried positions globally by the end of the year and continue to pay lower salaries as it copes with the impact of the COVID-19 pandemic.

Troy, MIchigan-based Meritor was among the first industrial companies to announce pay reductions for salaried employees. On Wednesday, the company said it is partially restoring salaries: 

  • CEO/Board of Directors: 20% reduction (from 60% reduction)
  • Other officers: 15% reduction...

https://s29755.pcdn.co/news/meritor-partially-restores-salary-cuts-while-trimming-salaried-jobs

Global Logistics Firm Predicts Massive Job Cuts Amid COVID-19 Pandemic!

  • Freight-forwarder Kuehne+Nagel may cut more than 20,000 jobs, as the coronavirus-caused economic crisis hits shipping.
  • Job cuts may be in locations such as the United States.
  • US unlike some European countries does not have a system of short-time working to fall back on to prevent massive layoffs.

Freight-forwarder Kuehne+Nagel (KNIN.S) may cut more than 20,000 jobs, with warehouse workers most affected, as the coronavirus-caused economic crisis hits shipping, controlling shareholder...

https://mfame.guru/global-logistics-firm-predicts-massive-job-cuts-amid-covid-19-pandemic/

Air France-KLM bids adieu to A380 jumbo jet

A white super-jumbo jet on approach to land in blue skies.

Air France-KLM Group (FP: AF) said it has permanently eliminated double-deck Airbus A380 aircraft from its fleet, joining other airlines that also are rationalizing fleets to contain costs amid a dramatic downturn in business caused by the coronavirus pandemic.

The current economic hardship accelerated Air France-KLM’s previous plan to retire its nine A380s by the end of 2022 — part of a five-year restructuring plan announced last November to improve profitability. The fleet renewal effort at...

https://www.freightwaves.com/news/air-france-klm-bids-adieu-to-a380-jumbo-jet

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