Kuehne + Nagel Cuts Over 2,000 Jobs Amid Logistics Capacity Glut

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 Tuesday 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. The company reported net revenue of 24.5 billion francs for 2025, down slightly from 24.8 billion francs a year earlier.