MONTREAL — Canadian National Railway will cut management and union jobs, a move that could affect as many as 1,600 employees in the U.S. and Canada.
A Friday report by the Globe and Mail newspaper of Toronto (subscription required) cited a source at the railroad for the job figure. The railroad confirms there will be job cuts, the CBC reports, but would not say how many jobs will be involved.
The CBC quotes CN spokesman Alexandre Boule as saying “the company is adjusting its resources to demand” in the wake of its third-quarter financial results. While revenues and profits increased, traffic volume fell, leading to an adjusted outlook for 2019. [See “CN lowers outlook for year as economy slows,” Trains News Wire, Oct. 23, 2019.]
Boule said, “This includes the difficult decision of adjusting its workforce to demand levels by placing some employees on furlough and reducing both management and union job numbers due to a weakening of many sectors of the economy. These adjustments have already started to take place across the network.”
Surprised anyone would want to work for CN after what Harrison did to the company and its employees and remember those in management now are Harrison’s trained hatchet men.
PSR and Wall Street are doing everything they can to destroy railroading. Damage done will be catastrophic. Appears the big shots don’t give a flip as long as they get their pockets lined.
Railroads have a piss-poor reputation with hiring. Not too long ago NS? furloughed a group of trainees as they graduated class. Is it any wonder they find it hard to get good employees?
Any executive who doesn’t work for the shareholder will find him/herself on the street.
Railroads are NOT jobs programs!
Railroading is a shrinking industry both in reality and in the minds of the public except in train wrecks. The only area that is expanding is the pockets of Wall Street and executives of these Class 1 railroads.
Reading yesterday’s article, was any other result expected.
CN to cut jobs; report says up to 1,600 could be affected.
I worked for a company once that had similar management. I compared it to cutting back feed on a cow. We can reduce feed & get a bigger profit. Later, hmmm…let’s cut back on some more feed and make a bigger profit. Well they cut back on feed so much chasing the bigger profit that eventually the cow died…so did the company!
U.p. did the same thing. They made 1.6 billion in profit but furloughed us after promising us careers. We left good job thinking we could have a better stable career. They dont care about how we are going to feed our families. They only care about the stock holders
Huge profits and cut the workers who helped make it. It never ends, or maybe it does when non of us have jobs.
But bonuses to the Execs will be paid I’m sure.