Jacksonville-based CSX Corp. said Jan. 8 it eliminated 166 management positions, or about 5% of its management workforce.
“This decision follows a thorough evaluation of current market conditions and the company’s cost structure. We are providing competitive severance packages and employment transition services to support impacted employees through this change,” CSX said in an emailed statement.
The company, which operates a railroad network throughout the eastern U.S., has 23,000 employees, including more than 3,000 management positions.
About 56% of the management team is based in Jacksonville, it said.
The cuts come after Steve Angel replaced Joe Hinrichs as CSX president and CEO in September