Union Pacific planning to cut hundreds of management jobs as coal shipments plunge

Associated Press

Union Pacific will cut hundreds of management jobs as the amount of coal shipped by railroads continues to plunge.

The Omaha company reported late last month that coal volume dropped 26 percent in its most recent quarter and said it believed that demand for coal would remain weak for the rest of the year.

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Pacific spokesman Aaron Hunt said Thursday that the cutbacks were job eliminations, not just temporary layoffs. He wouldn't confirm a specific number or say where the cuts would fall in the coming months.

The company says severance packages will be available for some who will lose their jobs.