maybe they got bigger containers . Or just the cargo business is continuously deflating after the pandemic, which is hardly news
Maersk to cut 10k jobs as shipping demand drops
91–100 of 176 posts
Re: Maersk to cut 10k jobs as shipping demand drops
#92Earlier quoted context omitted.
So are you suggesting they should not have hired those workers, and left that customer demand stay unsatisfied, with all the knock-on consequences for workers in other sectors? These kinds of policies just lead to ossification of the economy. We need dynamic, responsive economies that can adapt to conditions, and we need strong protections for worker's rights and support for citizens through economic adjustments. The…
> So are you suggesting they No, I only answered to the previous commenter who wrote that management can't predict the future. They knew it was coming, and increasing temporarily the headcount was their plan.
> They knew it was coming, and increasing temporarily the headcount was their plan.
And also the plan of the workers. It is not like they didn't also know what was coming when they took the job.
Re: Maersk to cut 10k jobs as shipping demand drops
#93> Danish shipping giant Maersk has posted earnings before interest and taxes (EBIT) of $30.9bn for the full year ended 31 December 2022, a 57% surge from $19.6bn in 2021. > This is said to be the firm’s best-ever annual result. https://www.ship-technology.com/news/maersk-logs-record-prof... Really sad to see these companies make enormous record beating profits then months later do mass layoffs just to maintain better…
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Re: Maersk to cut 10k jobs as shipping demand drops
#94Earlier quoted context omitted.
> you might as well say management must be able to see the future. Arguably they can't have ignored that a surge this big would be temporary... It's not like we suddenly discovered a massive amount of resources at our disposal to produce the goods they are transporting. EDIT: It's frankly amazing to see how much has been projected onto my comment. For the sake of transparency towards the neoliberal police, I quoted w…
So are you suggesting they should not have hired those workers, and left that customer demand stay unsatisfied, with all the knock-on consequences for workers in other sectors? These kinds of policies just lead to ossification of the economy. We need dynamic, responsive economies that can adapt to conditions, and we need strong protections for worker's rights and support for citizens through economic adjustments. The…
> We need dynamic, responsive economies that can adapt to conditions, and we need strong protections for worker's rights and support for citizens through economic adjustments.
So let's talk about those generous amounts of taxes that were paid by Maersk lately...
Re: Maersk to cut 10k jobs as shipping demand drops
#95> Danish shipping giant Maersk has posted earnings before interest and taxes (EBIT) of $30.9bn for the full year ended 31 December 2022, a 57% surge from $19.6bn in 2021. > This is said to be the firm’s best-ever annual result. https://www.ship-technology.com/news/maersk-logs-record-prof... Really sad to see these companies make enormous record beating profits then months later do mass layoffs just to maintain better…
Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? I agree with your point about getting laid off being awful, but I think this should be solved by the government having a robust social safety net (funded by taxes) so that getting laid off doesn’t cause stress. Fortunately, Denmark already scores high in this area.
> Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand?
Do you suggest anyone other than the employees should decide about that?
Re: Maersk to cut 10k jobs as shipping demand drops
#96Earlier quoted context omitted.
Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? I agree with your point about getting laid off being awful, but I think this should be solved by the government having a robust social safety net (funded by taxes) so that getting laid off doesn’t cause stress. Fortunately, Denmark already scores high in this area.
Assuming there is some ebb and flow in demand, they should keep employees around with nothing to do, yes. Moreover, there is natural attrition. They can stop hiring, promote internally, and so on, until they’ve reached their desired head count. The point is that both of these are doable when the company is wildly profitable. And they should be done for the negative secondary effects of layoffs (ruining lives, morale…
> Assuming there is some ebb and flow in demand, they should keep employees around with nothing to do, yes.
Disagree. Especially if they knew they were hired for a surge that would end.
Re: Maersk to cut 10k jobs as shipping demand drops
#97Earlier quoted context omitted.
Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? I agree with your point about getting laid off being awful, but I think this should be solved by the government having a robust social safety net (funded by taxes) so that getting laid off doesn’t cause stress. Fortunately, Denmark already scores high in this area.
"Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand?" Management should be fired for miscalculated headcount instead.
This appears to be an example of a company NOT miscalculating how many people they need, but how many people they need changes over time. Therefore headcount should be expected to change over time.
Companies hire workers when the need them and let them go when they don't. Just like workers take jobs when they need the pay and quit when they don't.
If management did not hire more people when they needed more workers it is bad for the company and also bad for the workers who could have been hired and earning those wages when there was increased demand.
Re: Maersk to cut 10k jobs as shipping demand drops
#98Earlier quoted context omitted.
Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? I agree with your point about getting laid off being awful, but I think this should be solved by the government having a robust social safety net (funded by taxes) so that getting laid off doesn’t cause stress. Fortunately, Denmark already scores high in this area.
> Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? Do you suggest anyone other than the employees should decide about that?
Not GP, but yes, I think the management of the company should decide on company matters like hiring, firing, and budget matters. It’s literally why they are employed.
Re: Maersk to cut 10k jobs as shipping demand drops
#99Earlier quoted context omitted.
By cutting now they are building that emergency fund. They see demand dropping back to pre-COVID levels or worse. They haven't cut employees that far yet though. Your analogy can also work here. When I have a record year I might add some extra services to my life. I see that changing and cut the services before it's a huge problem.
Start building an emergency fund when you see an emergency is already too late. Cutting an expense or two in hardship is fine but the problem is after one windfall taking on recurring spend of extra services assumes a windfall to recur too. Isn't this similar to living pay check to paycheck? If this is someone else's personal finance I'd say it's none of my business, but if it's likened to a public company, I'd say i…
If you believe a public company is mismanaged, you should not invest in it. If you believe it’s seriously mismanaged and others don’t yet realize that, you could even consider shorting it.
Others who believe the company is well-managed by looking at the forecasts and deciding to return to staffing levels still well above their 2021 (but lower than last month) will continue to hold (or even buy) the shares.
This difference of opinion is what makes a market.
Re: Maersk to cut 10k jobs as shipping demand drops
#100> Danish shipping giant Maersk has posted earnings before interest and taxes (EBIT) of $30.9bn for the full year ended 31 December 2022, a 57% surge from $19.6bn in 2021. > This is said to be the firm’s best-ever annual result. https://www.ship-technology.com/news/maersk-logs-record-prof... Really sad to see these companies make enormous record beating profits then months later do mass layoffs just to maintain better…
Do you suggest they keep employees around with nothing to do because of significantly reduced shipping demand? I agree with your point about getting laid off being awful, but I think this should be solved by the government having a robust social safety net (funded by taxes) so that getting laid off doesn’t cause stress. Fortunately, Denmark already scores high in this area.
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