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A Union Pacific employee climbs on board a locomotive in a rail yard in Council Bluffs, Iowa,
Photo:
Nati Harnik / Associated Press
Union Pacific
Corp.
UNP -1.98%
plans to get to know about 500 employees before the end of the year, the first of several rounds of job cuts to the railroad implements a new operating plan to turn around its performance.
The company, one of two major freight railroads in Western U.S., has struggled this year with congestion and service issues that have depressed its profits.
The Omaha, Neb.-based company also plans to eliminate 200 contracts according to the internal memo reviewed by The Wall Street Journal. The job cuts will occur across the railroad network. Union Pacific had a little more than 42,000 employees as of June 30, including 6,300 nonunion workers. The job cuts will affect both types of positions.
"These steps are part of REDUCING FRENCH REPRESENTATIVES," Chief Executive Lance Fritz wrote in the memo on Tuesday. "We will also need to drive efficiencies in other parts of the railroad."
The layoffs were announced as part of other restructuring ahead of the company's earnings announcement on Thursday. Those include consolidating operating regions from three to two, creating a centralized engineering organization and selling Selma Farm, a corporate retreat near St. Louis that the company inherited from a 1986 merger.
Union Pacific cet month, la version de l'operation de la plan de l'operation et de la gestion des planes, qui estables de la gestion des placements et des données de l'operation. Hunter Harrison, Who Applied to the Practices of Two Major Canadian Railroads Before He Moved to the Jacksonville, Fla.-Based Railroad
CSX
Corp.
last year.
Write to Paul Ziobro at [email protected]
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