Logistics group takes measures Cost-cutting hammer at Kuehne + Nagel - over 1000 jobs lost
The logistics group Kuehne + Nagel had a difficult third quarter in 2025. Turnover and profit declined. Now the annual target has been lowered and a savings program launched.
23.10.2025, 07:07
23.10.2025, 08:31
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- Kuehne+Nagel records a drop in profits of almost 40 percent in the third quarter of 2025.
- The company is lowering its annual forecast and plans to save over 200 million francs a year.
- Up to 1,500 jobs are to be cut worldwide - also due to the Trump administration's tariffs.
Turnover fell by 7 percent to 6.04 billion Swiss francs, as Kuehne+Nagel announced on Thursday. Gross profit adjusted for volatile freight tariffs fell by 4 percent to 2.11 billion.
As a result, operating profit (EBIT) fell by a whopping 37 percent to 285 million and net profit by 39 percent to 206 million.
According to a press release, the market environment was characterized by overcapacity and pressure on margins. Nevertheless, market shares were gained.
Kuehne+Nagel is a pawn in trade policy controversies, both directly and indirectly. US President Donald Trump's tariffs have a direct impact on trade volumes, while Trump's statements also have an indirect effect on the US currency, which is important for Kuehne+Nagel. Without currency effects, turnover would only have declined by 3 percent.
Analysts' expectations were exceeded in terms of turnover, but EBIT fell short.
Targets lowered
Kuehne+Nagel has significantly lowered its targets for the current year: the Group is now aiming for an EBIT of over CHF 1.3 billion. Previously, a figure of between 1.45 and 1.65 billion had been targeted.
At the same time, Kuehne+Nagel is launching a cost-cutting program to reduce costs by over 200 million Swiss francs per year. "Difficult external factors are forcing us to increase our efficiency and performance culture sustainably and in the long term," CEO Stefan Paul is quoted as saying.
Between 1,000 and 1,500 of the 85,000 jobs worldwide will fall victim to this, as can be seen from the presentation of the quarterly financial statements. With the job cuts, the Group aims to reduce its cost base by at least CHF 110 million. Further measures are expected to result in savings of at least another 90 million, bringing the total to over 200 million.
However, the job cuts will initially also incur costs. According to the documents, a mid-double-digit million amount is expected to be recognized in the final quarter of 2025 and the first quarter of 2026.
