Reuters, 18 Nov 2008, Melanie Lee
SINGAPORE, Nov 19 (Reuters) - Singapore's Neptune Orient Lines will axe 1,000 jobs as part of moves to save $200 million in costs next year to help ride out an expected severe downturn in the shipping sector, the company said on Thursday.
NOL, the world's seventh-largest container line, said it would reduce its global workforce by 1,000, with the largest impact being in North America. There will also be 50 jobs cut in the Singapore office.
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