Danish logistics firm AP Moller-Maersk A/S reported on Thursday that it had swung to a loss in its fourth quarter due to weak revenues. Separately, the company said it has decided to terminate the fifth phase of the share buy-back program of 11 billion Danish kroner or around $1.6 billion, with immediate effect. The lead manager, Skandinaviska Enskilda Banken AB's mandate to purchase shares on behalf of the company has been withdrawn. Further, in line with its global integrator strategy, AP Moll
Video communication platform Zoom is laying off nearly 150 employees, or less than 2 per cent of the company’s workforce. Tech Layoffs 2024: Zoom Lays Off 150 Employees, Cloud Software Vendor Okta Slashes 400 Jobs.
“Our fortress balance sheet continues to be one of our most strategic assets as we navigate the uncertain waters of global trade in the 21st century in pursuit of this vision,” he added. Back in May, Shopify sold its logistics business to Flexport in exchange for a 13 per cent stake in the company. Flexport Layoffs: Logistics Firm To Lay Off Another 20% of Its Workforce, Says Report.
At least three global logistics firms are expected to invest billions of dollars to set up facilities in Clark and mark the area as a hub for Asian operations, the Bases Conversion Development Authority (BCDA) said Tuesday.
Logistics: The combined company s truckload segment is expected to generate about USD 3.6 billion in annual total revenue on a proforma basis and would become one of the largest truckload businesses in Canada, TFI said.