Brambles to Cut 750 Globally

Brambles, the world’s top pallet supplier, will cut 750 jobs over the next year after an 8% drop in first-half 2008 profits.

Australia-listed Brambles, whose pallets are used by consumer goods companies worldwide to carry merchandise to stores, said a rapid slowdown in the US economy has forced it to scrap an additional seven million pallets over two years to absorb an over-supply.

Brambles’ net profit for the six months ended December 31st fell to $212.8 million, versus $293.7 million a year earlier.

The job cuts amount to about 6% of its workforce.