Maersk to Cut at Least 10,000 Jobs as Shipping Boom Unravels
profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs, and weaker prices.Maersk, which controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies such as Walmart and Nike, flagged a steeper downturn in demand than analysts and investors had expected."Our industry is facing a new normal with subdued demand, prices back in line with historical levels and inflationary pressure on our cost base," CEO Vincent Clerc said in a statement."Since the summer, we
Gyori Named President, Pelican Products
including sales, engineering, purchasing and overseas sourcing. His resume includes executive roles at Bushnell where he was personally responsible for a $400 million P&L and where he helped grow the business from $100 million to $600 million. Gyori has also served in executive posts at Nike, Quaker Oats Company and The Procter and Gamble Company and has experience working with private equity firms. Gyori holds a Bachelor of Arts degree from Stanford University and an MBA from The Wharton School of Business