CSX eliminates more than 100 management positions
Management layoffs mark railroad’s engineering department restructuring. The post CSX eliminates more than 100 management positions appeared first on FreightWaves .
CSX has reduced its workforce by 109 management roles as part of a restructuring effort to optimize its engineering functions. The changes, initially announced last spring, aim to streamline field support and ensure the railroad's system can operate safely while meeting customer demands. CSX's operations headquarters, located in Jacksonville, previously laid off 166 management employees, or around 5%, of their non-union workforce in January.
Today, the company will unveil its third-quarter earnings, with analysts predicting revenue of $3.96 billion, a 10.3% increase compared to the previous year, and earnings per share at $0.53, up 20.5% from last year's adjusted $0.44. Of the impacted employees, 58 were given new positions within operations, while 51 received severance.
Of those offered severance, 75% have union seniority and might return to craft positions, including roles in areas with ongoing vacancies across CSX's network. CSX's spokesperson stated that the company acknowledges the impact of these decisions on its colleagues and their families, and is providing support during the transition.
CSX Chief Operating Officer Mike Cory is retiring, and his duties are being reassigned to two current executives.
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