AP Moller-Maersk to Cut 1,000 Corporate Jobs as Earnings Expected to Fall This Year

By Dominic Chopping

Danish shipping giant A.P. Moller-Maersk will cut around 1,000 jobs this year as part of plans to save around $180 million annually as it said earnings will fall sharply this year.

"To drive continuous productivity improvements and maintain strong cost discipline, Maersk has announced steps to simplify the organization and reduce the company's corporate overhead," it said in a statement.

As part of these improvements the company said around 15% of its 6,000 corporate positions will be cut this year to reduce costs across regions, countries and its headquarters.

Maersk targets between $4.5 billion and $7 billion in underlying earnings before interest, taxes, depreciation and amortization this year, compared with $9.57 billion in 2025.

Underlying earnings before interest and taxes are expected at between $1 billion and minus $1.5 billion, compared with $3.36 billion in 2025.

Its fourth-quarter revenue slipped to $13.33 billion from $14.59 billion a year earlier, while Ebitda fell 49% to $1.84 billion and EBIT fell 94% to $118 million.

A FactSet poll of analysts had expected revenue at $12.87 billion, Ebitda at $1.84 billion and EBIT at $210 million.

Maersk will pay a dividend of 480 Danish kroner ($75.90) a share, down from the 1,120 kroner it paid a year earlier. It said it will initiate a share buyback program of up to $1 billion.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

02-05-26 0309ET