Union Pacific announces workforce reduction
Union Pacific today announced a management employee workforce reduction program that will reduce approximately 500 management positions by mid-September.
“Union Pacific for some time has leveraged employee attrition and technology to reduce general and administrative costs,” said Lance Fritz, chairman, president and CEO. “Unfortunately, attrition alone will not keep pace with our need and ability to reduce these costs.”
The company also plans to reduce approximately 250 non-management positions by mid-September.
"Union Pacific notified me early this morning of the decision to reduce its workforce. It is always difficult to make decisions that impact employees and their families. Union Pacific values its Omaha roots and the employees who contribute so much to the company and our community. I have been assured the company will provide severance packages and other resources to assist the employees who will be affected," Mayor Jean Stothert said in a statement Wednesday.
The company has yet to announce what positions will be eliminated.