The Port of Tyne is to axe about 40 jobs as it looks to slash costs due to a fall in coal imports. The port issued a statement confirming it was in talks with staff and unions over the cuts and was looking to avoid compulsory redundancies wherever possible.
The business, which employs almost 500 people, has blamed a fall in demand, partly due to a reduction in coal imports.
“As a result of a consolidating operations across the business and the continued fall in coal imports, the Port of Tyne is consulting with trade union and employee representatives on potential redundancies across the whole business,” the statement said.