Matson Cutting 10% of Employees… 60 Jobs

Alexander & Baldwin said Tuesday it will cut 10 percent of its workforce at Matson Navigation Co., Hawaii’s largest ocean shipper…

…Matson will eliminate 60 non-union positions, which come on top of a hiring freeze that began in 2007 and continued into 2008…

…In less than four months, A&B stock has lost more than half of its value, tumbling from $44 a share at the end of September.

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