Kühne + Nagel could cut 25% of jobs worldwide

Berlin (hooly-news.com / hooly News) – Logistics group Kühne + Nagel could cut 25% of its jobs worldwide to cope with the coronavirus pandemic, said the company’s main shareholder, Klaus-Michael Kühne, in an interview Saturday with the daily “Die Welt”.

“The group could end up with 20 to 25% fewer employees than before”, at “the end” of the crisis, said the German businessman, heir to the group, of which he is still president. honor.

The company employs around 83,000 people worldwide.

Kühne + Nagel, a specialist in logistics and transport of goods, has seen its volumes decline sharply in recent months, due to the coronavirus pandemic, which has slowed international trade.

Countries will be “differently affected”, depending on their business support systems, facing the effects of the pandemic, he added, however.

In Germany, Klaus-Michael Kühne “sees no redundancies”, while the United States, where “there is no short-time working”, could be hit hard.

The job cuts could affect “largely industrial jobs in warehouses,” he said.

The company will come out “smaller” than before the crisis, he believes.

Globalization “will no longer continue in the same way”, and the “international division of labor will be less pronounced”, predicts the businessman, also present in luxury hotels, and football, through the club from Hamburg.

Kühne + Nagel reported in late April a drop of almost a quarter of its profit in the first quarter, down 6.2% year on year, faced with the drop in volumes in sea and air freight, with the Covid pandemic 19.

Maritime transport was the first segment of activity affected by the pandemic which led to a drop in trade with China, its turnover in this segment falling by 6.9%, followed by air transport, which fell by 6 , 8%, and road transport at -4.1%.

hooly News / rp