Canadian National announced today that it is planning to lay off workers. FreightWaves is reporting that a source told The Globe and Mail that the railroad could lay off up to 1,600 employees, although CN did not say how many employees would be laid off.
CN said “As explained during CN’s Q3 results [report], the company is adjusting its resources to demand. This includes the difficult decision of adjusting its workforce to demand levels by placing some employees on furlough and reducing both management and union job numbers due to a weakening of many sectors of the economy. These adjustments have already started to take place across the network,” the railroad said. “CN would like to express gratitude to the employees who will be leaving the company and thank them for their service.”