North Carolina ports roll back wages
The N.C. State Ports Authority is imposing temporary salary cuts on many employees because of an expected shortfall in revenues, reports Wilmington's Star-News.
It said the wage rollbacks are just one of several belt-tightening measures being pursued by the agency, which has docks in Wilmington and Morehead City. The newspaper said a memorandum it obtained said if expense aren't cut, the port authority could have $1 million loss at the end of the year
According to the paper, the port attributed the shortfall to downturns in markets for forest products, wood pulp and rubber, as well as delays in acquiring new container services in Wilmington where it is building a new container facility.
Port officials expect growth in business and cost savings will bounce the agency back into the black within a year, the paper said.
North Carolina ports roll back wages
