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Burning Journal -> Canadian -> Canadian Pacific Railway to eliminate 4,500 jobs
Post Info TOPIC: Canadian Pacific Railway to eliminate 4,500 jobs
mntman


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Canadian Pacific Railway to eliminate 4,500 jobs
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Canadian Pacific Railway to eliminate 4,500 jobs

By By ROB GILLIES | Associated Press 5 hrs ago
 

TORONTO (AP) Canadian Pacific Railway will eliminate some 4,500 employee and contractor positions by 2016, the new chief executive of Canada's second largest railway announced Tuesday.

Chief executive Hunter Harrison said they have already made progress and expect 1,700 positions to be eliminated by year end.

CP's total workforce is 19,500, which includes employees and contractors. The Calgary, Alberta-based company said the reductions will be achieved through job cuts, attrition and fewer contractors as part of its restructuring plan. Harrison said at the company's annual investor conference in New York that the railway is "fortunate" to have a high attrition rate of eight to nine percent, given its older workforce.

Harrison is an American-born retired CEO of Canadian National Railway and is credited with turning the Montreal-based company into the most efficient major railway in North America.

Earlier this year, former CP chief executive Fred Green announced his departure, ending a months-long battle that pitted New York activist investor Bill Ackman against the board of directors. The railroad has since elected a new board and named Harrison CEO.

Harrison said he will relocate CP's corporate headquarters in downtown Calgary to a new office space at a CP-owned yard. CP will also explore options including the potential to sell surplus real estate, and the Delaware and Hudson line in the U.S. Northeast.

"We have only just started this journey to being a more competitive railway. We will continue to drive our service offering while focusing on taking unproductive costs out of the business," Harrison said in a statement.

Earlier Tuesday, CP said it is looking into the possibility of selling 660 miles (1,062 kilometers) of track in South Dakota and three surrounding states. CP in 2007 bought 2,500 miles (4,023 kilometers) of track and equipment from South Dakota-based DM&E and its subsidiaries for $1.5 billion. CP said it was "inviting expressions of interest."

Canadian Pacific Railway moves $50 billion worth of freight each year, including more than half of Canada's potash, wheat and coal.



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Cy Valley


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Cut the pool?

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Calvin


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Cy Valley wrote:

Cut the pool?

 Sounds more like slash and burn.

Another mai-lai



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Troll


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I realize some attitudes will sour....but all they have to do to avoid this is except a 6-1 schedule.

images?q=tbn:ANd9GcRb2bt4ecDrpz517NwTdZlV1ad351CK3nhsHlqrL4mhn76BtYLV



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Uke


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This guy (Hillbilly Harrison) hates Canada, and Canadians in general... But he'll turn the old CP around and make it one of the best, most efficient railroads in North America, if not the world!

 

Harrison is an American-born retired CEO of Canadian National Railway and is credited with turning the Montreal-based company into the most efficient major railway in North America.

Earlier this year, former CP chief executive Fred Green announced his departure, ending a months-long battle that pitted New York activist investor Bill Ackman against the board of directors. The railroad has since elected a new board and named Harrison CEO.

Harrison said he will relocate CP's corporate headquarters in downtown Calgary to a new office space at a CP-owned yard. CP will also explore options including the potential to sell surplus real estate, and the Delaware and Hudson line in the U.S. Northeast.

_________________________________________________________________________

By the time the board at CP is done with him... Canadian Pacific will be a memory. He'll lead 'em right inta bankruptcy...he's already started...



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steam300


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them Canadian snow ni%^& ( sorry can't type that disgusting word )

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Thunderwagon5000


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Welcome to the culture of fear

Merry Phh-Hawkin KKKrismusss

 



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Uke


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Talk about slash and burn... Hillbilly Harrison's already on it! Didn't take long for CP ta start eliminating jobs. Nope!

 

Canadian Pacific has closed four hump yards

 
 
 

Tue Dec 4, 2012 5:38pm EST

Dec 4 (Reuters) - Canadian Pacific Railway Ltd Chief Executive Hunter Harrison said on Tuesday the company has closed four hump yards, facilities used to sort rail cars, over the last five months.

Harrison made the comments at an investors' event in New York City. He had been expected to announce closure of some of the costly yards.



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Snippy


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Republicunt Uke smiles. His stock is up.

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Uke


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Just took a peek at the CBS Marketwatch websight... CP sits at $102, and change! Somebody's buyin' what Hillbilly Harrison's sellin'!

I might be sellin' my shares ta fund my down for that house... Might hafta consult the BurningJournaldotcom tax expert for some wise counsel first!

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Thunderwagon5000


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If diversification of investments is your thing,

buy into mortuaries near their larger terminals.

 



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Freddie Krueger


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I took profits ophph of my mutual funds, and put them into the bonds and Treasury fund I have. Buy low, sell high still works.

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Uke


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Originally bought CP in 2002 at $19.04 per. I had a target, double that, sell half. That mighta been '06, or 2007... I bought other stock, including more GE, and CAT.

Still own 200 CP, it's up around $100 per. And still pays dividends. That'll be the better part of my down payment on that house...which I've yet ta find!

But it'll be Oregon, not Washington! Washington state has nothing for Veterans!

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Freddie Krueger


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Oregon has nuthin, and they like it that way. If you move there, don't start asking for better skools and roads and shit. They don't like you outsiders coming in and trying to change things. If you like what is there, treat it like a sore dick, and don't phuck with it.

Other wise, they will wish things on you, such as, they will hope your asshole grows tastebuds...

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Cy Valley


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Freddie Krueger wrote:

Other wise, they will wish things on you, such as, they will hope your asshole grows tastebuds...

 Perhaps Zeb Atlas will be along to tell us about that.



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