Job losses at Liverpool

Workers at the port have walked out in recent weeks after the Unite union rejected a pay deal. The port has called this latest decision ‘extremely regrettable but now unavoidable given the economic backdrop’.

“We have seen an increasing decline in the movement of containerised cargo for Liverpool over the last few months, in line with industry figures which show a 4.6 per cent drop in volume across Europe,” said a spokesperson for Peel Ports Group.

“This, together with a recent sharp fall in container vessel charter rates of around 50 per cent, indicate a rapid decline in throughput is expected over the next few months.”

The unitised cargo market is experiencing a significant decline in volume owing to rising interest rates, higher energy costs and weakening consumer demand for manufactured and imported goods.

Container volumes through UK ports fell by 17% during the last financial crisis and took several years to recover. It is widely expected the current economic challenges may lead to a much higher fall in disposable income over the coming 12 to 24 months.

“Whilst this is an extremely regrettable situation, as a responsible employer, we need to restructure now in order to minimise the potential greater impact the downturn in container business will have on jobs, further down the line,” said the spokesperson.