The Port of Liverpool has announced plans to restructure its container division and next week will begin a redundancy consultation process.

The major container port in the UK said the decision was “extremely regrettable but now unavoidable, given the economic backdrop”.

“The unitised cargo market is experiencing a significant decline in volume due to several factors which underpin the bleak outlook on the global economy; with rising interest rates, higher energy costs and weakening consumer demand for manufactured and imported goods,” said the Port of Liverpool.

Meanwhile, hundreds of port workers, port operatives and engineers have announced wage strikes in recent weeks.

A spokesperson for Peel Ports Group, operator of the Port of Liverpool, commented: “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% drop in volume across Europe. This, together with a recent sharp fall in container vessel charter rates of around 50%, indicate a rapid decline in throughput is expected over the next few 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.”

“We are exploring a number of different options to try and protect as many jobs as possible, including redeploying staff in other areas of the business which are less exposed to the economic crisis”.