CSX shareholder meeting starts Friday in Jacksonville

By Frank Powers - Assignment manager, Ashley Harding - Reporter

JACKSONVILLE, Fla. - The CSX shareholder annual meeting starts Friday at the Prime F. Osborn III Convention Center in Jacksonville.

In a message to shareholders, company President and Chief Executive Officer James Foote said far-reaching change in 2017 made for a “challenging period for our employees and many of our customers.”

READ: CSX CEO's letter to shareholders

CSX went through many rounds of layoffs, but never said exactly how many jobs were eliminated.

The Jacksonville-based railroad company reports efficiency savings totaled $460 million and revenues were up 3 percent. 

Ahead of the meeting, the company also released an assessment of conditions that could be problematic for CSX:

“Marketplace conditions for resources like locomotives as well as the availability of qualified personnel,
particularly engineers and conductors, could each have a negative impact on the Company’s ability to meet demand for rail service. Although the Company believes that it has adequate personnel for the current business environment, unpredictable increases in demand for rail services or extreme weather conditions may exacerbate such risks, which could have a negative impact on the Company’s operational efficiency.”

The 2018 Annual Meeting of Shareholders will begin at 10 a.m.

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