Cao Lei, Sino Globals chief executive officer
Sino-Global Shipping America, a leading, non-state-owned provider of shipping agency services operating primarily in China, has announced new cost-cutting measures in response to the weakened global shipping industry.
33% reduction in annualized office rent expense
Reduction of staff from 75 to 52.
FoxBusiness reports that Cao Lei, Sino-Global’s chief executive officer. said. ‘We are operating in an industry that has been particularly hard-hit by the global financial crisis.’