Wednesday, August 6, 2008

Don't Call It a Recession: Oakland Port Slashes Jobs

By Chris Thompson
Wed, Aug 6, 2008 at 8:02 AM

The Port of Oakland is about to take a big hit, as officials announced they will have to lay off one hundred people, or fifteen percent of its total workforce.

According to the Chron, airlines have cut back on services, undoubtedly due to rising fuel prices, and the port projects that there will be up to twenty percent fewer passenger seats available at the airport next year. And that means a lot less revenue. But an official with a union that represents port workers blames the port's decision to ramp up its seaport freight capacity; borrowing millions to finance the purchase of massive new cranes put the port in serious debt, he told the Chron, and regular employees are going to pay the price.

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