June 5th, 2017 by WCBC Radio
UPDATED 2:45 PM - CSX Shareholders have voted to approve an $84 million expenditure to compensate new CEO Hunter Harrison for expenses related to his early exit from his former employer, Canadian Pacific. While Harrison has been very good for CSX stock…it’s up about 40%…it has meant uncertainty for employees and railroad communities like Cumberland.
CSX is a major employer in the Cumberland area, and we want to make certain that it is understood this report does not directly affect employment levels at the Cumberland facility.
Over the weekend, we received word that CSX has shut down its repair facility and laid off employees at its yard in Avon, Indiana. The locomotive maintenance facility handles repairs and inspections on CSX equipment.
Unlike Cumberland, the “hump yard” in Avon remains in operation.
In a release to the media in Indiana, CSX spokesman Rob Doolittle said that the furloughs were effective immediately, and were part of an ongoing comprehensive review by management.
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