Most previous cuts were based upon a target #, but coming quickly is a broader and larger-scale force reduction to remove all but roles deemed essential to fundamental railroading. This includes much deeper cuts into marketing, sales, training, finance, economic development, administration, supply/procurement, Human Resources, labor relations and the subsidiaries like PST and Loup Logistics. Hearing IT is mostly spared in the talks being that it is so tight now. I am hearing at least 1 or more layers of management (AVP, Directors, Etc) will be removed entirely from the corporate structure also and offered lower positions or severance. No word on Lance, but rumor mill says that institutional shareholders are furious and pushing for change and trying to impact board members to affect a change. A little scuttle from the crystal palace.
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If the shareholders really cared about the direction the company they wouldn’t have waited this long to speak up, it’s a bit late to put out the dumpster fire that lance and jimbo started. The virus just helped speed it up a bit quicker instead of dragging it out till the middle of the year. They’ve prioritized the wrong customers (shareholders), tossed those real customers that were paying the bills for years to the side, and said $crew the employees who actually keep the place running. It will take DRASTIC changes to recover from the horrible business plan that is PSR. People thought CSX’s apology tour was a joke just wait till they attempt to beg the customers that they lost to BNSF to come back. Time will tell if this company will recover from PSR fully but as long as they keep the current roster of decision makers in place it’s not going to change anytime soon.
I wish they would cut the CMS people that keep cutting my xtra board down to nothing everyone I get 16 hours off. Hard to take care of yourself and family when you can’t get a g– off because the company won’t pay a few days guarantee. Very sad.
The falling rate of both carload volumes and average revenue per carload (energy, intermodal, everything), management will need to take drastic measures to just keep the business alive. This is before the virus more widely impacts the train crews, maintenance of way, dispatch, etc....then it’s ‘all bets are off’.
What did loup logistics used to be called? I would sell that division off just because the name is so dumb. All these subsidiaries need to go
This...is actually the kind of thing that needs to be on here.
I imagine that IT is still going to lay off the NC/CADX people very soon.
so more railroad gossip?
they must be closing down headquarters then because everyone there is non-essential