CSX Corp. plans to cut another 6,200 jobs over the next three years, company officials said at an investor presentation earlier this week.
When added to the 4,600 job cuts that occurred between 2016 and 2017, the rail expects to shed a total of 10,800 jobs (a third of its workforce) between 2016 and 2020. The railroad is looking to bring its total headcount down to approximately 21,000 positions. The company expects that the cuts will come through job attrition rather than layoffs.
A major goal stated in the investor presentation is to lower the railroads’ operating ratio to 60%.
Also, railroad looks to raise $800 million through asset sales -- $300 million in real estate as well a...