CSX Cuts 109 Operations Management Jobs in Engineering Restructure

CSX has eliminated 109 operations management positions as part of a restructuring of its engineering functions, the railroad disclosed ahead of its third-quarter earnings report. A company spokesman said the changes, first outlined in the spring, are intended to establish a more effective operating structure and align field support with railroad needs. Of the affected employees, 58 were offered new roles within operations and 51 were offered severance; roughly 75% of those offered severance hold union seniority and may return to craft positions, including roles where CSX has vacancies. The Jacksonville-based carrier (NASDAQ: CSX) laid off 166 management employees in January, about 5% of its non-union workforce at the time. The cuts coincide with the retirement of Chief Operating Officer Mike Cory, whose duties are being reassigned to two current executives. CSX reports third-quarter results after the market close, with Zacks consensus estimates of $3.96 billion in revenue, up about 10.3% year over year, and earnings per share of $0.53.