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Daily Archives: November 4, 2023

Maersk plans 10,000 job cuts amid declining revenues and … – Investing.com Australia

RestructuringBy Insolvency Advisory AccountantsNovember 4, 2023

Reuters. A.P. Moeller-Maersk, a Danish shipping giant listed on the Copenhagen stock exchange, intends to eliminate approximately 10,000 jobs by the end of next year as part of a $350 million restructuring initiative. The job cuts, mostly planned for 2023, aim to reduce the workforce from 110,000 to under 100,000 in 2024. This move follows…

Luxembourg Modernises Its Insolvency Legislation | HUB – K&L Gates

BankruptcyBy Insolvency Advisory AccountantsNovember 4, 2023

On 19 July 2023, the parliament of the Grand Duchy of Luxembourg (Luxembourg) passed bill no. 6539A into law (the New Insolvency Law), marking a significant milestone in the movement to modernise and enhance the competitiveness of Luxembourgs insolvency framework. The bill has been under discussion for a number of years and aims to curtail…

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