Canadian Pacific Railway to cut up to 1,000 jobs as rail volume slumps

Saturday, January 23, 2016
By Paul Martin

CBC.ca
Jan 21, 2016

Canadian Pacific Railway plans to cut 1,000 positions this year as it adjusts to lower shipment volumes and profits.

The Calgary-based rail company says most of the cuts to unionized and management positions will result from attrition and kick in by the middle of 2016.

Since 2012, the railway has cut 6,000 to 7,000 positions, including 1,200 last year alone.

CP made the announcement on a conference call Thursday after releasing its fourth-quarter and year-end results.

“There’s probably 1,000 additional heads to come out potentially in 2016,” is how CEO Hunter Harrison replied to an analyst’s question on the company’s head count. “So there’s still room there.”

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