Maersk cutting at least 10,000 jobs as shipping boom unravels

Shipping group A.P. Moller-Maersk, reported a steep drop in third-quarter 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, sending its shares tumbling. Maersk, which controls about one-sixth of global container trade, transporting goods for a host of major retailers …

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