Fwd: Fwd:2022 psr plan is 15% reduction in the whole workforce. Profit driven.
7 replies (most recent on top)
A board is just as effective as a CEO and you save 25 million a year.
Difficult time's ahead for all of us.
Psr is only good for about two years, then whichever railroad implemented it goes into recovery mode. UP is in recovery mode, trying to hire, but its kinda hard when you're the worst company in America.
@qet You're both right. You really should go read the call transcripts like that person stated though. The shareholders and the board are actually asking questions about the labor shortages. Yeah, I actually took a few minutes to read the transcripts myself. Anyone can bash me for doing so later! They are the ones that wanted PSR to go forward, but their view on it, has obviously changed.
@brp, I agree with most of your post except the part about the Board of Directors and shareholders. The board of directors were the ones that originally advocated for PSR, as the other class 1 railroads were doing this and they saw the cost savings. The stockholders don’t care one bit about worker shortages as long as the stock price is strong and they are making money. The cuts will never stop. They will always be looking for ways to reduce headcount including new technology and eventually one man train crews or full autonomous trains (don’t say it can’t be done, it’s being done in other countries…they just need to figure out the grade crossing piece, which they eventually will). This is no longer an industry where you will have a career, it’s now just a placeholder until you find a job elsewhere.
Get rid of the people who are working from home.. Obviously they’re not very essential to the company
This post makes no sense. So let me ask a couple of questions.
#1 Why post the comment about being "profit driven"? We all knew or at least most of us knew its was profit driven from the start.
#2 Why implement 15% further reductions to the workforce? There's quite a few locations that don't have 15% to spare as it is.
#3 If the 15% reductions were to take place, then why is the UP urgently hiring at MANY locations? It's very counter-productive to hire for here and furlough over there, but they done d-mb things before.
#4 Aside from the unions, how do you think this will be presented to the board of directors and the shareholders? SPOILER ALERT; The board of directors and the shareholders are starting to ask serious questions about the labor shortages at the UP, and why they have them!
Implementing further workforce reductions, to a railroad that has a large labor shortage problem already would be the rough equivalent to career su----e for executives. You already have concerned shareholders asking questions about it. Now with the new head of the FRA questioning PSR and the practices involved, WHY DO IT?! Go check out the earnings call transcript from Q4 and see for yourself. The UP just can't afford to do anymore layoffs! Their under the microscope now. People are watching!
This will be the year for UP to put the ace to SOC guys. They shoved down their duties to all signal Maintainers. 90 percent of ticket update, crossing out of service, closing tickets. Only ticket we can't close on our own is a crossing trouble call ticket. UP is working out the bugs on that. But it's coming. Why pay a SOC guy more if ya have grunts in the field that get payed less and force us to do the job. And don't start the sh-t with call the union! Many have! Has the union stopped any job from getting cut???? Fu-k no. Greed is king in Class Ones.