Archive for July 2020
Class Is employed fewer people in June
(Source: Progressive Railroading 07/22/2020) Class Is employed 116,128 workers in mid-June, down 2.31 percent from May’s employment levels and down 17.99 percent year over year, according to Surface Transportation Board (STB) data. All employment categories logged month-to-month decreases. They were maintenance of equipment and stores, down 6.13 percent to 19,985 people; transportation (train and engine), down 2.57…
Read MoreCN recalling some of its 4,000 laid off workers
(Source: Canadian Press, July 21, 2020) MONTREAL — Canadian National Railway Co. has laid off about 4,000 employees from its workforce this year as profits sagged 60 per cent in the second quarter amid fallout from the COVID-19 pandemic. Shipments declined nearly across the board, prompting layoffs that left the country’s largest railroad operator down…
Read MoreCN’s second-quarter 2020 operating income falls 53%
(Source: Freight Waves, July 21, 2020) CHATTANOOGA, Tenn. — The COVID-19 pandemic hit Canadian railway CN’s second-quarter profits, with lower rail volumes resulting in a 19% decline in quarterly revenue. CN’s second-quarter net income on an unadjusted basis totaled C$545 million (US$405 million), or 77 cents per diluted share, compared with $1.36 billion, or $1.88…
Read MoreHere’s why oil train derailments and pipeline spills keep happening
(Source: Rabble.ca, July 20, 2020) TORONTO — In the midst of global upheaval, recent oil spills in Canada have received little attention. These spills occurred as governments, both federal and provincial — notably Alberta and Ontario (which later reversed the suspension) — suspended environmental regulations for the oil and gas sector, mirroring suspensions in the…
Read MoreClass I rail headcount levels drop further in June
(Source: Freight Waves, May 20, 2020) CHATTANOOGA, Tenn. — Rail headcount levels in June reached a fresh low for 2020 as U.S. rail volumes were still recovering from the coronavirus-induced traffic declines from earlier in the spring. The number of employees working for U.S. operations of Class I railroads in mid-June totaled 116,128, an 18%…
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