Alexander & Baldwin Decimating Workforce

Ocean transportation services firm Alexander & Baldwin is reducing non-union workforce by 10%.

Cargo demand and freight movement were lower than expected in the first two months of this year.

The company expects workforce restructuring charges of up to $6 million in Q1, and expects to save about $8 million a year from job cuts.

Alexander & Baldwin is a Honolulu-based company that was once part of the Big Five companies in territorial Hawaii. The company today operates businesses in shipping, sugar cane, real estate, and diversified agriculture.