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UPDATE 6-CSX sticks with plan to cut jobs, reduce trains [Reuters]

CSX (CSX)  More Company Research Source: Reuters
Last csx earnings: 7/17 04:02 pm Check Earnings Report
US:NYSE Investor Relations: csx.com/index.cfm/investors/news-releases
PDF CSX sticks with plan to cut jobs, reduce trains | Reuters 3 Min Read (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and will also slash capital spending. Harrison, an investor favorite for leading turnarounds of Canada’s two major railroads, died just eight months into a dramatic restructuring campaign that included slashing jobs, shutting multiple rail yards, mothballing locomotives and rail cars and running fewer - but longer - trains on strict schedules rather than based on customer needs. “We are picking up right where Hunter left off, and we are going to deliver, just as he envisioned,” Jim Foote, who was appointed to succeed Harrison in December, told Reuters in an interview after outlining details of CSX’s three-year plan at an investor meeting in New York. CSX shares, which ended the trading day up about 1 percent [Read more]

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