Union Pacific to Cut Hundreds of Management Jobs
August 13 2015 - 12:57PM
Dow Jones News
Associated Press
OMAHA, Neb.-- Union Pacific Corp. said it will cut hundreds of
management jobs as the amount of coal shipped by railroads
continues to plunge.
The Omaha company reported late last month that coal volume
dropped 26% in its most recent quarter and said it believed that
demand for coal would remain weak for the rest of the year.
Union Pacific spokesman Aaron Hunt said on Thursday that the
cutbacks were job eliminations, not just temporary layoffs. He
wouldn't provide a specific number or say where the cuts would fall
in the coming months.
The company said severance packages will be available for some
who will lose their jobs.
--Copyright 2015 the Associated Press
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