In addition, it has layed-up eight vessels due to the worsening market conditions (Marine Connector, 2008). These eight vessels will remain at anchor until conditions improve. Another area for reducing costs is lay-offs. Maersk plans on cutting 2,000 to 3,000 employees (E-Logi, 2008). Maersk has also found opportunities to reduce costs at individual terminals. For example, the company was able to find a way to use less space and equipment at its Wando Welch Terminal location (Moreland Advisors, 2009). These cost savings and reduced labor at the Wando Welch Terminal will allow Maersk to keep its Charleston, South Carolina operations profitable (Moreland Advisors, …show more content…
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