UPDATE 3-For CSX, more job and train cuts in post-Harrison era [Reuters]
CSX Corporation (CSX)
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Source: Reuters
For CSX, more job and train cuts in post-Harrison era | Reuters 3 Min Read (Reuters) - U.S. railroad operator CSX Corp said on Thursday at its first investor day since the death of former Chief Executive Hunter Harrison that more cuts to jobs, rail cars and locomotives were key to its three-year plan for boosting profitability and streamlining operations. Harrison, a favorite of investors who had led turnarounds at two Canadian railroads, died in December just eight months into a dramatic restructuring campaign that included slashing jobs, shutting eight rail yards, mothballing locomotives and running trains on tight schedules rather than based on customer needs. The new CEO, Jim Foote, and his revamped management team reaffirmed that it would substantially lower its operating ratio - a closely watched measure of operating expenses as a percentage of revenue â?? to 60 percent by 2020 from 67.9 percent at year-end 2017. Jacksonville, Florida-based CSX, the third-largest U.S. railroad b
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CSX
Earnings
- 4/17/24 - Beat
CSX
Sec Filings
- 4/18/24 - Form 10-Q
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- CSX's page on the SEC website