UP unveils staff cuts in reorganization
Union Pacific has announced a workforce reduction of approximately 475 people in the fourth quarter with an additional 200 contract positions to be eliminated.
The company says these cuts will be spread across the UP system.
According to information released to employees Tuesday:
This is the first of what likely will be additional workforce reduction initiatives through 2020.
“Workforce reductions are extremely difficult decisions to make because we recognize the impact they have on families, friends and co-workers,” said Chairman Lance Fritz. “We are taking steps today to ensure Union Pacific remains a strong, competitive and vibrant company. These steps are part of reducing our general and administrative support structure by roughly 30 percent by 2020. We also will need to drive efficiencies in all other parts of the railroad."