CSX to Lay Off 116 Employees
13 February 2016 - 04:40AM
Dow Jones News
CSX Corp. said it is laying off 116 mechanical employees as it
streamlines operations at 16 mechanical facilities. The company
said it is responding to low rail-cargo volumes.
Some of the impacted workers will be given positions in other
parts of the company.
Operations will be reduced at car shops in the South, Midwest
and East Coast, including in Detroit and New Orleans.
Railroads are facing competition from trucks, as low fuel prices
have made hauling cheaper. Cheaper energy prices have also lead to
declines in shipments of coal and metals, such as materials used
for energy drilling.
Last month, the company said it was consolidating its
administrative operations from 10 divisions to nine divisions and
closing its offices in Huntington, West Virginia.
In October, CSX said it would close mechanical shops in Corbin,
Ky., in a move that would impact 180 employees.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
February 12, 2016 12:25 ET (17:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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