Shipper Neptune Orient Lines to cut 1,000 jobs

Updated Thursday, November 20, 2008 11:14 am TWN, AP

Shipper Neptune Orient Lines to cut 1,000 jobs

SINGAPORE -- Singapore’s Neptune Orient Lines Ltd., Southeast Asia’s largest container shipper, said it will cut 1,000 jobs to help save US$200 million next year as a global slowdown in trade accelerates. Most of the layoffs will take place in North America, the company said Wednesday. Some 50 workers will be let go in Singapore. “The negative conditions we are seeing in the market place are unprecedented in our industry’s history,” president and chief executive Ron Widdows said in a statement.

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