CSX has eliminated 109 operations management positions as part of a restructuring of its engineering functions.
The organizational changes were first outlined this past spring, a CSX (NASDAQ: CSX) spokesman said in an email to FreightWaves. The cuts “are intended to establish a more effective operating structure and better align field support with the needs of the railroad, while maintaining the capabilities necessary to safely operate and maintain the network and serve our customers.”
Headquartered in Jacksonville, CSX in January CSX laid off 166 management employees, or about 5% of the non-union workforce at the time.
CSX is releasing third quarter earnings today after the close of markets. Zacks consensus estimate expects revenue of $3.96 billion, up about 10.3% year over year. Earnings per share of $0.53 is up about 20.5% from last year’s adjusted $0.44.
The spokesman said 58 affected employees were offered new roles within operations and 51 were offered severance. Of those offered severance, 75% have union seniority and may return to craft positions, including roles in areas where CSX continues to have vacancies across the network.
“We recognize the impact these decisions have on our colleagues and their families, and CSX is supporting affected employees through the transition,” the spokesman said.
The job cuts come as CSX Chief Operating Officer Mike Cory announced his retirement. His duties are being reassigned to two current executives.
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