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First publish date: 2004-03-26

CSXT Continues Management Cuts

A third round of layoffs is going on this week at CSX Corp. as the railroad company continues its management restructuring plan announced in November to cut 800 to 1,000 nonunion jobs.

The company would not reveal how many or what types of jobs will be lost in this round. However, only about 140 positions have been eliminated since last fall. Employees received e-mails earlier this week saying the next round of cuts was beginning.

Adam Hollingsworth, a CSX spokesman, said affected employees are having one-on-one meetings with their supervisors.

"I don't think it would be appropriate to discuss the issue any further until those conversations have been completed," Hollingsworth said.

The restructuring began in December when 20 senior vice presidents and vice presidents were laid off. Last month, about 120 positions, mainly vice presidents and directors, were eliminated.

CSX said the cut backs will save CSX $80 million to $100 million annually. Management layers are being reduced from 11 to eight.

The cuts were intended to make CSX, which operates the country's third largest railroad, a more efficient competitor.


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