PORT TOWNSEND — Port Townsend Paper Corp. President John Begley announced a new round of belt-tightening measures for the company Tuesday, including voluntary retirement packages for 60 workers and a company-wide salary freeze.

The company is offering workers 55 and older at the Port Townsend kraft paper mill early retirement packages in a move to cut costs amid a slumping pulp and paper market, Begley said.

An annual 2 percent salary increase for all company employees, scheduled to kick in at the end of the month, has also been put on hold, Begley said.

“We’re placing that on hold until the economy turns around,” he said.

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