DSV has laid off 7,000 full-time employees as part of its integration of DB Schenker, with another 1,000 jobs expected to be cut in the second quarter, CEO Jens Lund reports, according to New York's Journal of Commerce.

Mr. Lund told analysts during the company's first-quarter earnings call that integration has been completed in more than 50 countries and should be finalized globally by year-end. He stated that the merger will generate US$1.5 billion in synergies next year, while integration costs remain at US$1.7 billion.

CFO Michael Ebbe indicated that further acquisitions are likely but ruled out immediate deals while the company absorbs Schenker. He mentioned that expansion could come from acquiring a large regional player or a forwarder specializing in niche logistics markets.

DSV's net profit fell 42 percent to US$256 million in the first quarter, while revenue surged 69 percent to US$11 billion. Costs rose sharply, with direct costs climbing to US$8 billion from US$4.6 billion, staff costs doubling to US$1.4 billion, and external costs increasing to US$382 million.

Air and ocean freight posted a 20 percent rise in gross profit to US$1.2 billion, with revenue up 43 percent to US$5.7 billion. Air freight volumes jumped 55 percent to 518,000 tonnes, while ocean freight rose 50 percent to 976,000 tonnes.

Road logistics revenue increased 128 percent to US$3.6 billion, while contract logistics revenue rose 107 percent to US$2 billion. DSV expects global air and sea freight markets to grow 2-3 percent this year, broadly in line with GDP forecasts.

Mr. Lund cautioned that inflation, high interest rates, tariffs, and geopolitical uncertainty are weighing on demand. 'It's a volatile environment we're looking at,' he said.