Maersk confirmed on Thursday that it will lay off 1,000 corporate employees. The move is a direct response to deteriorating freight rates and the “gradual reopening” of Red Sea routes, which suggests the inflated rates from longer transits are coming to an end.
While the job cuts affect less than 1% of the total global workforce, they represent a significant 15% reduction in corporate functions. Maersk aims to save $180 million annually through these cuts and by leaning harder on AI applications to simplify the organization.
Current financials:
Revenue: Dropped to $54 billion (down from $55.5 billion).
Net Profit: More than halved to $2.7 billion (down from $6.1 billion).
Shipping volumes actually grew by 4.9%, but because there are too many ships chasing that cargo (overcapacity), prices have plummeted. Ocean transport earnings alone fell by nearly a third.
A Volatile Outlook for 2026 Maersk warned that the industry is still struggling with “unprecedented and persisting volatility.” Between the Red Sea situation, tariffs, and geopolitical tension, uncertainty is the new normal.
Looking ahead to 2026, the company expects volumes to grow another 2-4%. However, given current shipping rates, that might not be enough to turn a profit.