Kuehne + Nagel's workforce is down by 5,000 in 2020 Kuehne + Nagel has in round figures reduced its workforce by 5,000 employees throughout 2020, during which a hiring freeze and the coronavirus crisis has made the freight forwarder review its costs. Photo: Kuehne+Nagel BY SØREN PICO, TRINE VESTERGAARD Published: 28.10.20 at 14:30 Read this article for free Register with your E-mail. No credit card required. Continue for free Get full access for you and your coworkers. Start a free company trial today Already a member? Log in. More from ShippingWatch Torm CEO sees no burning platform in the green transition Product tanker shipping company Torm's chief executive does not see the shift from fossil fuels to green energy as a burning platform. In the long term, new business legs may arise. Overheated container market could last until next spring The soaring rates in container transport could last until the spring of 2022, concludes Sea-Intelligence, citing two historical trends. Rates to the US could increase by an additional 25 percent. Gas major BW LPG eyes strained market in the second quarter BW LPG exits 2020 with a decline on the bottom line. The shipping company expects a tougher market in the second quarter after the first quarter brought a record start to the year. World Fuel Services' fuel sales declined in 2020 Fuel sales and earnings declined in 2020 at US-based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices. Danish Ship Finance's bottom line shrinks in tough pandemic year Danish Ship Finance saw its bottom line shrink by DKK 110 million in 2020, while the bank projects a more stable shipping market and return to growth in the year to come. Print Print Increase text size Increase text size Decrease text size Decrease text size Further reading Overheated container market could last until next spring Rodolphe Saadé promises better service – if the customers want to pay for it Kuehne + Nagel buys Asian logistics company with 1,600 employees Half-empty warehouses in the US could extend container market boom for rest of 2021 Related articles Kuehne + Nagel saved CHF 77 million on personnel during Covid-19 Kuehne + Nagel CEO on climate target: "It's a race we have to win"