Thousands more CSX workers face layoffs

Jacksonville-based railroad laid off 4,600 employees last year

JACKSONVILLE, Fla. – Thousands more job cuts are coming at CSX, the railroad's managers told investors in New York last week.

The Jacksonville-based company is looking to cut 6,200 jobs over the next three years, the Jacksonville Daily Record reported. This is in addition to the 4,600 jobs cut last year.

Mark Wallace, executive vice president and chief administrative officer, told the company’s Investors and Analyst Conference, "We're a bloated organization."

“We will achieve this principally through attrition,” Wallace told the company’s investor and analyst conference.

Wallace is one of the executives hired in March 2017 after Hunter Harrison was brought in as chief executive officer. Harrison died last year and James Foote took over as CEO of the Fortune 500 company

“We are committed to following through with what he has started,” Foote said.

CSX says it is aiming to have a workforce of only 21,000 employees by the end of 2020.


About the Author: