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62 managers sacked at coal-starved Burlington Northern Santa Fe
THE Burlington Northern Santa Fe (BNSF) Railway has cut 62 management jobs and reduced itself from three regions to two as layoffs mount and coal volumes fall because of environmental regulations and low natural gas prices.
The Association of American Railroads said April coal volumes on United States railways were down 39.7 per cent year on year, reported American Shipper.
"We are seeing a structural shift in the coal industry, with double-digit volume declines in the first quarter of 2016 alone and no expectation for a return to previous levels," said BNSF spokesman Michael Trevino.
"This realignment will create a leaner and more agile organisation that is better positioned for growth and new business opportunities," he said.
BNSF has been cutting staff amid depressed demand for coal and crude oil, which caused company profit to fall 25 per cent to US$784 million in the first quarter - its lowest ebb in two years.
The Association of American Railroads said April coal volumes on United States railways were down 39.7 per cent year on year, reported American Shipper.
"We are seeing a structural shift in the coal industry, with double-digit volume declines in the first quarter of 2016 alone and no expectation for a return to previous levels," said BNSF spokesman Michael Trevino.
"This realignment will create a leaner and more agile organisation that is better positioned for growth and new business opportunities," he said.
BNSF has been cutting staff amid depressed demand for coal and crude oil, which caused company profit to fall 25 per cent to US$784 million in the first quarter - its lowest ebb in two years.
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