Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (71010)	11/18/2019 7:22:04 AM
From: Goose94	Read Replies (1) \| Respond to of 203921

Canadian National Railway (CNR-T) is laying off about 1,600 people. The layoffs affect managers, office employees and unionized rail workers in a range of positions across CN's network in Canada and the United States. An unnamed source says the number of job losses could rise if demand from rail customers continues to decline. CN in October cut its profit outlook for 2019, blaming softer demand for much of the freight it hauls. Industrial activity in the United States has slowed, and exports have weakened as the tariff war started by President Donald Trump has upended supply chains and driven up prices. Consumer spending in Canada and the U.S. has also showed weakness. Executives said in October that an unspecified number of job cuts would affect a range of CN departments, from mechanical shops to information technology. At the time, CN boss Jean-Jacques Ruest said the railway is responding to the deteriorating market by parking or scrapping 5,000 rail cars, or 8 per cent of its fleet, returning leased locomotives and vacating 75,000 square feet of leased office space in Montreal.