CSX to cut up to 1,000 jobs

CSX to cut up to 1,000 jobs

CSX Corp. on Monday said it plans to eliminate 800 to 1,000 non-union jobs in the next six months to cut costs and boost efficiency, productivity and operating profit.

The Jacksonville, Florida-based company also said it will streamline management, reducing the number of layers to no more than eight from 11. CSX, which operates the largest eastern U.S. rail network, employs about 34,000 people.

CSX said it expects the changes to cost between $60 million and $80 million, most of which will be recognized over the next two quarters. It said savings should be fully realized by the middle of 2004.