Matson Navigation Co., the state's largest ocean carrier, will cut its work force by roughly 10 percent by the end of the first quarter in anticipation of a significant slowdown in business.

Parent company Alexander & Baldwin Inc. announced the cuts yesterday, citing “;other measures to be implemented over the coming months at various A&B business units.”;

Those changes include eliminating wage increases; reducing general and administrative expenses; and reducing incentive awards, profit sharing and work-force levels, according to W. Allen Doane, A&B's chairman and chief executive officer.

“;And while fourth quarter and full-year 2008 earnings are expected to be good, these and other proactive measures are necessary in view of the current economic climate,”; he said.

The total number of workers affected is 60 - all non-union - of more than 600 employees at Matson's ocean services operation and its subsidiary Matson Terminals Inc., said spokesman Jeff Hull.

The company is starting a voluntary resignation program with a “;more generous severance package”; up until March 20. After that it will begin involuntary cuts across the board at its main offices in Honolulu and the neighbor islands, Guam, Phoenix and the West Coast and its Oakland headquarters.

“;It's unlikely that one location will be disproportionately impacted,”; Hull said. “;We will just continue to look at all cost measures throughout the organization. Hopefully there's not (any more cuts), but we can't rule it out.”;

Over the past several years, Matson has been diligent in cost-cutting measures across the board, without undercutting the reliability of its service, according to Matthew Cox, Matson's president, adding that the work-force cuts will be seamless to customers.

“;Measures involving employees are difficult,”; he said. “;However, it is important that Matson realign its cost structure to current demand.”;

A&B will detail cost-reduction efforts and release its full-year and fourth-quarter earnings on Feb. 4.