Kuehne+Nagel to layoff 2,000 workers amid weak demand, AI push
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February’s Logistics Managers’ Index showed a freight market recovery that is in “full-swing.”
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Kuehne+Nagel is a bell weather for the logistics sector, which faces more uncertainty with the Middle East conflict underway. The company says it plans to cut 2,000 workers.
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While major shipping lines cut short their return and war threatens the region, the Suez Canal Authority said vessel traffic continues apace through the Middle East trade route.
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Container line CMA CGM has suspended all bookings to the Middle East as Iran attacked crude oil facilities and tanker traffic in the Persian Gulf.
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Courtesy of S&P Global Market Intelligence
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