Virginia port lays off 90

Virginia port lays off 90    Virginia International Terminals Inc., (VIT) the non-stock, non-profit operating affiliate of the Virginia Port Authority announced Monday the immediate layoff of 90 employees, or 20 percent of its workforce.
   VIT said it has never initiated a mass layoff in its 27-year history. Prior to Monday's announcement, it employed 452 people at its marine cargo terminals in Norfolk, Portsmouth, Newport News and at the Virginia Inland Port, an intermodal facility in Front Royal, Va.
   'For more than a year, VIT has taken every cost-cutting step imaginable to avoid job losses,' said Joseph A. Dorto, VIT's chief executive officer and general manager. 'Unfortunately, the sustained recession in global markets has overtaken VIT and we are no longer able to financially support our current operating model.
   'This is the most difficult day in my 40-year career,' he said.
   In Virginia, cargo volume and associated revenue fell nearly 25 percent in the fiscal year ended June 30.
   'For the last year we have discussed the overall economy, our volumes and our revenues,' Dorto said. 'None of these factors has improved for us or the shipping industry at large and many experts believe we are two years removed from real recovery.'
   In July, Dorto announced a voluntary separation program for employees age 62 and older. Employees participating in that program will receive six months salary and company-sponsored individual medical coverage until age 65. The number of employees pursuing this option has not been finalized.
   VIT has a longstanding policy prohibiting former employees from rejoining the company, but the agency said while that policy would remain in effect for others, those who lost their jobs Monday will be eligible for future employment with VIT.
   'As the economy and our business recover, we hope to rehire some of the talented staff we've lost today,' Dorto said.
   Virginia’s announcement follows one by the South Carolina State Ports Authority last week that it would eliminate 17 of its 541 positions. The authority said the number of persons losing their jobs will actually be smaller — four persons have agreed to transfer to other jobs.
   It added: “the reduction is a direct result of market conditions in the international shipping industry” and all South Carolina port employees are being required to take a two-day furlough to further reduce costs.