Created Sunday 25 July 2021

See also: Transportation

by Wolf Richter • Jul 22, 2021 • 227 Comments

“No way did I realize how difficult it was going to be to try and get people to come to work these days”: CEO of CSX.

So there are few hiccups in the US economy right now. James Foote, the chief executive of CSX, one of the largest railroads in the US, put it this way during the earnings call yesterday (transcript by Seeking Alpha):

“I’ve never seen any kind of a thing like this in the transportation environment in my entire career where everything seems to be going sideways at the same time,” he said.

“In January when I got on this [earnings] call, I said we were hiring because we anticipated growth. I fully expected that by now we would have about 500 new T&E [train and engine] employees on the property,” he said. “No way did I or anybody else in the last six months realize how difficult it was going to be to try and get people to come to work these days.”

https://wolfstreet.com/2021/07/22/after-slashing-33-of-their-workers-in-six-years-railroads-complain-about-labor-shortages-amid-uproar-from-shippers-over-slow-shipments/

Last Update: 9/14/2022, 2:00:00 PM

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