September 5, 1991 |
Union Pacific Corp. to Take Big Charge: The company said its board has approved a $575-million after-tax charge against third-quarter earnings for restructuring, most of which will involve cutting the size of its railroad crews and shedding thousands of miles of railway lines. The Bethlehem, Pa.-based company said it plans to cut 3,000 to 4,000 jobs in the next three to five years as part of the restructuring.
July 2, 1988 |
CSX Corp., the large shipping, railroad and energy company, on Friday took a $778-million charge against its second-quarter earnings to lay off nearly 25% of its work force, and reported a loss of $160 million, or $1.04 a share, for the quarter. CSX will lay off about 8,200 workers, reducing its rail work force to about 30,000 employees, as part of an ongoing restructuring to streamline its rail operations, the company said. Total sales for the second quarter inched up to $2.12 billion from $2.