Union: CSX to slash Buffalo jobs - Jacksonville Business Journal:

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The union revealed the company’s decision following a meetintg withCSX officials. The job losses, according to the represent about 20 to 25 percent of the workers at the rail located off Broadwayin Buffalo. Hundreds of rail cars travelo across those tracks on a daily basis, servicing dozens of area companies. That servicd will be cut as a computerizedroutinhg system, or hump processor, is shut down. "CSXz employees at Frontier Yard were given an update today onthe railroad’s strategic review and plans. As of now, abouf half of the 800 or so cars that are currentlh processed at the yard every day will be handlexd atother locations.
About 200 of the 400 cars being movesd will continue to be handled within the state ofNew "The employees were also told that CSX expects significant reductionsw at Frontier, but that there are no plans to closd the yard at this time. While a smalk number of reductions willbegin immediately, the largefr number is not yet determined. The companyt will continue to keep its employees informer about the strategic reviewand plans," the statementr said. The Jacksonville, Fla.-based rail companyt (NYSE: CSX) reported a 30 percent declinein first-quartefr profit of $246 million, or 62 centd per share, down from $351 million, or 85 centw per share, a year ago.