Oakland Port to Eliminate 100 Jobs

I guess this is a sign of the times. Earlier this year I posted a blog entry about the slowing transportation industry. That was a general article but now the details of the fallout are starting to emerge. The SF Gate reported today that the Port of Oakland is cutting 100 jobs, many of them in the engineering section.

Below is an excerpt from the article:

The Port of Oakland is cutting 100 jobs, representing about 15 percent of all positions, in its biggest reduction in force in recent memory.

The cuts, to take effect Aug. 29, affect 62 filled positions and 38 that were vacant because of a partial hiring freeze.

"We've had a tremendous upset in the aviation industry which has impacted our airport operations," said port spokeswoman Libby Schaaf. "Consumer spending is down; the dollar is weak, that has also really impacted imports at the seaport. It's been a prudent decision to adjust to the economic realities."

Port revenue is growing more slowly than anticipated; at the same time, debt payments are increasing for bonds that paid for past capital improvements.

Most of the reductions will be made by reining in the port's capital improvement program, such as suspending plans to build a third terminal at Oakland International Airport. The airport soon will have lost six carriers this year as Aloha, ATA and Skybus all went bankrupt and Continental, American and Taca (an El Salvador airline) have ceased or plan to cease operations there shortly.