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More job cuts expected in 2019 at Jacksonville-based CSX

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JACKSONVILLE, Fla. – After exceeding management's expectations for job cuts in 2018, the CSX Corporation plans to layoff more workers in 2019, according to the Jacksonville Daily Record.

Citing a spokesperson who works for the Jacksonville-based company, CSX sees plenty of room to cut further, the Record said. CFO Frank Longero said during a conference call that CSX exceeded its 2018 goal of 2,000 reductions.

RELATED: CSX shakes up operations in wake of 'challenging period'

In August of 2018, CSX announced it would be restructuring its operations. It said the changes will improve safety and service, help decision-making happen more quickly, and increase operating efficiency.

The company indicated that it planned to have a workforce of only 21,000 employees by the end of 2020. According to CSX, 22,475 employees were working for the business at the end of the 2018 fiscal year.

CSX did not give any targets for 2019, but Longero expects the reduction to be in line with the company's normal annual attrition rate of six to seven percent, the Record said.

Read the full story HERE.


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