CSX Announces More Job And Train Cuts

According to a report by Reuters, US railroad operator CSX said on Thursday that more cuts to jobs, rail cars and locomotives were key to its three-year plan for increasing profitability and streamlining operations. The announcement was made at the company's first investor day since the death of its former Chief Executive Hunter Harrison. Harrison dies just months into his dramatic restructuring campaign of the company which included cutting jobs, shutting eight rail yards, and running trains on tight schedules. The overhaul has lead to persistent service delays and disruptions and has increased costs for many shippers, while also drawing scrutiny from federal regulators.