Article: Ti Logistics Briefing & News: Panalpina reports reasonable 2008 results - and extensive job cuts; Latest news and brief from Transport Intelligence; Panalpina reports reasonable 2008 results - and extensive job cuts.

M2 PRESSWIRE-16 March 2009-Transport Intelligence Ltd: Ti Logistics Briefing & News: Panalpina reports reasonable 2008 results - and extensive job cuts; Latest news and brief from Transport Intelligence; Panalpina reports reasonable 2008 results - and extensive job cuts(C)1994-2009 M2 COMMUNICATIONS LTD

RDATE:16032009

Panalpina is the latest freight forwarder to announce extensive job losses after releasing a mixed set of annual results. The company stated last week that it would embark on a cost-cutting programme that would result in the "reduction of between 1,400 and 1,600 jobs worldwide" in anticipation of deteriorating market conditions.

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