Union Pacific just broke revenue records, so why is it laying off workers?

(Source: Casper Star Tribune, November 5, 2018) 

CASPER, Wyo. — Loads of grain trundled down toward Mexico as summer ended, and strong crude prices drove up the number of rail cars hauling petroleum or liquefied gas by 40 percent. But Union Pacific ended a record third quarter with an announcement that nearly 700 jobs would be cut. Most of those workers were management and contractors based in the Midwest.

Full story: Casper Star Tribune

Tuesday, November 6, 2018