CN chops 3,000 more jobs

Article Abstract:

Canadian National Railway Co. is planning to dismiss 3,000 employees as part of a strategy to become more efficient. The move comes after the firm registered a 1997 operating income of C$807 million on sales of $4.4 billion. The workers are expected to receive $590 million in severance payments. The company, which employed 36,000 railway workers in 1992, is gearing to become the most efficient railroad in North America, according to chief executive Paul Tellier. The cuts are also intensified due to the declining world economy, he added.

Comment:

Plans to dismiss 3,000 employees as part of a strategy to become more efficient

Labor force information, Canadian National Railway Co., Article

---

CP posts strongest earnings in history

Article Abstract:

Canadian Pacific Ltd. posted record earnings for the 2000 year. The company posted C$1.76 billion in profits for the year, compared to $584 million in 1999.

Sales, profits & dividends, Finance, Canadian Pacific Ltd., CP

---

Similar abstracts:

• Abstracts: Compaq to chop 1,250 full-time jobs. Compaq's woes reflect slumping computer hardware sector. Jobs officially takes top job at Apple
• Abstracts: Sprint begins network revamp. Telus posts overall loss despite gains in mobile unit
• Abstracts: Promoter backs titanium project. Dupont investors put deal in jeopardy
• Abstracts: CPR plans to lay off more than 1,000 workers. CN profit rises 11% for quarter
• Abstracts: Confusion sparks Nortel selloff. Capital spending boosts Call-Net's loss

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.