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CP says it will cut 1,000 people in 2016
There is another article on this web site that says CP had record revenues and everything is great. Well, which is it? If CP really has had such a good year, how can they thank their employees by firing 1,000 of them? Isn’t that punishing the employees for good work? Will somebody closer to the situation than I am help me sort this out?
They must be talking about a great year for the stock holders, not the employees
Yeah, Mr. Benson, I saw that conflict as well.
George, the other article you saw was the January 21, 2016 Canadian Pacific news release titled “CP reports record fourth quarter and full-year earnings”. CP did not mention the layoffs in it.
I don’t think CP even know when their lying these days as they’ve told so many lies to people about how wonderful everything will be if they get control of NS!
January 8th Article about Shipper Letters Opposing Proposed Merger:
“The record shows that any claim that CP boosts profits at the expense of its workforce is false,” Cej says. “CP has worked hard with union leadership to negotiate forward-looking, fair agreements in Canada and the U.S.” CP has managed nearly all of its staffing reductions through attrition — not layoffs — Cej says.
Article today from the 4th Quarter Earnings call:
Canadian Pacific Railway says it will cut 1,000 positions in 2016 to adjust for lower profits and volumes. The announcement came during the Class I railroad’s 4th quarter and year-end earnings call on Thursday, which referred to a 29 percent decrease in profits during the last quarter.
When you cut your railroad to the bone, you can not succeed in trying to market yourself to new customers. It is the new customers that railroads need for success. Some old customers are alway lost by normal change. What is the CP doing for the long term future other than trying to take over the values in NS super great property? CP is in cannibalization mode as just sold off more eastern lines.
The impact of of interest payments on merger debt would what amount?
Cutting 1000 employees, is 1000 less good paying jobs, no matter how you look at or explain it, period !!
trickle down economic.
Et tu, NS, if you were to be gobbled up by CP?
The Railroad Retirement impact.
CP"s change in working capital?
Yes, I would imagine this news will do wonders for the morale of the rank and file who are now worried about upcoming pink-slips. Perhaps a preview of what NS employees can expect will happen if their railroad is taken over by CP?
once again the HYPOCRITC EHH shows all he cares about is the MONEY !!!
NS has to be in mind here
In appreciation for your dedicated service, here’s a pink slip. Sincerely, EHH )-:
Yep
There are no words adequate for such incredulity … one can only wonder what effect the debt load will have if CP is successful in buying out Norfolk Southern. It will be Penn Central all over again!