JACKSONVILLE, Fla. — CSX eliminated 125 management positions on Thursday (July 10) in a cost-cutting move that comes less than two weeks before the railroad is scheduled to release its second quarter financial results.
The layoffs thinned management ranks by nearly 5%, based on monthly employment data the railroad reports to the Surface Transportation Board.
“CSX has implemented changes to its management structure as part of the company’s ongoing efforts to continually improve business performance and ensure the company’s long-term success,” the railroad said in a statement.
Laid-off employees will receive severance and employment transition services, the company said.
“The decision reflects the company’s commitment to aligning resources with business needs and will help ensure that CSX continues to deliver for all of our stakeholders,” CSX said.
Seventy-seven of the jobs eliminated were based in Jacksonville, where the railroad employs 2,000 people. The balance of the layoffs were scattered across the system. Overall, CSX has 23,000 people on its payroll.
