Logistics Recap
October 29th – November 4th
Truck transportation employment drops again
Employment in the truck transportation sector in October recorded its fourth decline in the past five months as total jobs in that classification are now down more than 30,000 since its most recent high.
Maersk plans thousands of job reductions, says ocean market is ‘worsening’
Maersk plans to reduce its workforce by 3,500 positions in the next year as it prepares for challenges in the ocean market, CEO Vincent Clerc said in a Q3 earnings call on Friday.
Up to 2,500 jobs will be eliminated “in the coming months,” with the remaining job cuts extending into 2024, according to a press release. The goal is to bring total jobs at the company down to below 100,000 positions.
Read More Here Supply Chain Dive
Yellen calls for more trade between U.S. and LATAM
U.S. Treasury Secretary Janet Yellen wants Latin America to trade more with the U.S. in order to limit China’s dominance of the global manufacturing market.