Kuehne + Nagel to Cut 2,000 Jobs as War Pressures Markets

[Stay on top of transportation news: Get TTNews in your inbox. ] Kuehne + Nagel International AG plans to cut more than 2,000 jobs as it tackles a glut of capacity in the transportation market, even as the war on Iran makes the global cargo outlook more unpredictable. The Swiss logistics services provider plans to save 150 million Swiss francs ($191 million) from the job cuts, it said on March 3 as it reported annual sales and profit. The full-year results were “broadly in line” with expectations, Vontobel analyst Michael Foeth said in a note.