Stevedoring Services chairman Henry Hayward has attempted to play down the possibility of 25 percent job cuts at the company, saying they were ?years down the line?.

Mr. Hayward, speaking at a Press conference to mark the signing of a new two-year terminal operators licence at Hamilton Docks, told that comments made last week by president Bruce Lines about the cuts were taken ?out of context?.

?What Mr. Lines said was taken out of context to a certain extent,? Mr. Hayward said yesterday.

?He was just explaining the process of how the cargo arrives from its outset to its delivery. Job cuts are years down the line and any decisions will be taken in full consultation with all parties involved.?

This newspaper revealed last week that Stevedoring Services could be forced to cut nearly 25 percent of its staff due to space shortags for stripping containers at Hamilton Docks.

Bruce Lines, president of the company, said that space at the docks had nearly reached critical point last summer which could force them to cut services such as stripping containers to allow more room ? and this would mean a large reduction in staff.

Mr. Lines said that in anywhere between six months and three years the company could be forced to move stripping of mixed containers to some kind of bonded warehouse away from the main docks.

Bermuda Industrial Union president Derrick Burgess said Mr. Lines should be talking to the union organiser, Chris Furbert, and the executive of the dock division about the situation before talking to the media.

At Thursday?s announcement in the Mayor?s Parlour at City Hall, Hamilton Mayor Lawson Mapp said he was delighted that the negotiations had been concluded.

?We are here to conclude the contract negotiations with Stevedoring Services by signing the agreement for the new terminal operators licence,? he said.

?I am especially pleased to have once again reached agreement and to enter into partnership with Stevedoring Services under the chairmanship of Mr. Henry Hayward.?

Alderman Reginald Minors, chairman of the Corporation?s Wharf Committee, said: ?This was a very smooth process and I am encouraged by what we have agreed.

?Hamilton Docks are very important to this city and to this country and we look forward to seeing very efficient docks during the contract period.?

The two parties signed a two-year deal with an option of a further three years.

Mr. Hayward added that the two parties would be sitting down on a regular basis in the coming months to iron out the ?minor problems? of operation and said he was delighted that agreement had been reached.