CSX Losing Freight To Trucking Due To Service Disruptions

(Last Updated On: January 6, 2018)

 

CSX Corp Chief Executive Hunter Harrison has apologized to customers for service disruptions that he attributed to some railroad employees resisting changes at the company.

On Tuesday, Cowen & Co analysts said more than 80 percent of shippers they surveyed have experienced problems with CSX and nearly 40 percent have switched some freight to rival Norfolk Southern, and 67 percent have transferred freight to a trucker.

Harrison, who led turnarounds at Canadian Pacific Railway Ltd and Canadian National Railway Co, told customers he was facing resistance to aggressive cost-cutting measures he promised for CSX.

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