The layoff of 500 Canadian Pacific Railway maintenance workers will begin Thursday, according to a union website, as the railway’s revenue is expected to drop in the second-quarter.No word yet from Barack Obama on this story.
Lower volumes are one reason for declining profits, although grain movement this crop-year is ahead of average.
Earlier this month, the workers were informed they would be laid off effective Thursday, the Teamsters Canada Rail Conference Maintenance of Way Employees Division said on its website.
The layoffs, which officials from the railway say are temporary, have spurred safety concerns from the union as fewer people maintaining and monitoring the track could increase the likelihood of an accident.
“From what we’ve been informed by the company, the grain has already went lower. I don’t know if it’s because the volumes haven’t been there to transport,” said Gary Doherty, president of the Teamsters Canada Rail Conference Maintenance of Way Employees Division.
Thursday, June 30, 2016
Canadian Pacific Railway to Lay Off 500 Workers . Railway cites lower volumes, softening demand for job cuts .
The Wall Street Journal reports:
