Written by David Nahass, Financial Editor for railwayage.com FINANCIAL EDGE, RAILWAY AGE MAY 2022 ISSUE: Sports journalists say they don’t root for teams; they root for stories. At “Financial Edge,” the circumstance is the same. There always needs to be something to write about. Nonetheless, at its heart, “Financial Edge” roots for the railroads. The […]
Struggle to bring crews back draws scrutiny from regulators, who were already concerned about lean operations By Paul Ziobro for wsj.com America’s freight railroads are struggling to bring back workers, contributing to a slowdown in the movement of chemicals, fertilizer and other products that threatens to disrupt factory operations and hinder a rebound from the […]
‘Workforce reduction’ comes amid implementation of precision scheduled railroading By Joanna Marsh for freightwaves.com Union Pacific (NYSE: UNP) confirmed that it has laid off employees across its network, although it didn’t provide details about how many were laid off and where. The railroad attributed the “workforce reduction” to its broader efforts to implement precision scheduled railroading, an operational […]
By Melanie Standiford for knopnews2.com Union Pacific officials say due to the coronavirus pandemic driving volume down, fewer trains are running, requiring the Union Pacific to reduce the workforce in the mechanical department Monday. Union Pacific spokeswoman, Raquel Espinoza said the Union Pacific is experiencing volume declines as the COVID-19 pandemic continues to impact the country. “We […]
LITTLE ROCK, Ark. (AP) — A company representative says Union Pacific Corp. is furloughing most of the staff at its facility in Little Rock that repairs the railroad’s locomotives after seeing a substantial drop in business volume because of the coronavirus pandemic. Kristen South is the Nebraska-based railroad’s senior director for corporate communications and media relations. […]
Its debt surged to fund the share buybacks. And truckers ate its lunch. But don’t tell any of this to the “market.” By Wolf Richter for WOLF STREET. Original story at wolfstreet.com The first thing to know about Union Pacific’s earnings, which it released this morning, is that despite cutting its workforce by 17%, promising more layoffs in 2020, experiencing […]
By Eric Miller for wdbj7.com ROANOKE, Va (WDBJ7)– For as long as there has been a Roanoke, Virginia, there have been the Roanoke Shops, machines and men cranking out locomotives, for well over a century. But in May, those tracks will fall silent. In a letter released Tuesday morning, Norfolk Southern officials say they’ll be […]
Railroad, like its rivals, continues to streamline operations; quarterly profit fell 10% By Paul Ziobro for wsj.com Union Pacific Corp. UNP -2.47% plans to run its railroad with nearly 3,000 fewer workers this year as the company pushes ahead with a new operating plan that runs fewer, longer trains. The Omaha, Neb.-based company said it […]
By Heather Long for washingtonpost.com Jeff Hollandsworth was told to do something recently that he had never done before in his many years working for Norfolk Southern Railway: Empty lockers. Norfolk Southern has let more than 3,500 employees go in the past year, including 175 in Roanoke, part of an aggressive push across the railroad […]
Written by David C. Lester, Managing Editor The number of Class 1 railroad employees dropped again in October, with the total number at 134,582, according to the U.S. Surface Transportation Board data and reporting by FreightWaves. This level is a drop of 1.7% since September and a 9.5% drop compared to October 2018. The decline […]