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Shipping Giant Seeks Cushion: Prepares for Impending Recession
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The second largest shipping giant, Denmark's Maersk, has announced that it will lay off 1,000 employees. Having decided to change its business strategy a few years ago and abandoned rapid growth, the company claims that it is trying to cushion itself against a possible decline and billions in losses. According to the Danes, this is a strategy of timely preparation, because dark clouds of trouble are on the horizon for shipping.
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