I'm behind on my reading and have just learned that CN's CEO Luc Jobin was ousted a month ago by CN's Board as a result of serious declines in service metrics. Jobin had held the job for about two years. The WSJ linked CN's troubles to aggressive cost cutting, including layoffs of over 1,000 employees and long term storage of about 200 locomotives. CN's profits have taken a beating. A rebound in oil production has sent operations reeling in western Canada, with fracking sand, crude, grain and other traffic moving sluggishly, if at all. CN has turned down thousands of shipments of grain and several dozen ships are floating idle off Canada's Pacific coast, as they await delayed trains. Oil producers are trucking oil to the U.S. and loading it aboard other rail carriers. CN has recently leased 130 locomotives and needs to hire 775 Conductors. I do admire CN's Board for taking action. If anyone wants the CEO's job or wants to be a Conductor, CN is taking applications.
Had not heard or read any even slight hint of CN troubles. This is major faux pas stuff. Another of these too darned many "short term gain, long term pain" leaders. One thing which needs immediate change is needing to stop the post=K-12 educators from teaching this garbage. Until that time, this foolishness will continue.
Corporate bean counters running railroads instead of railroaders running railroads will have these type of results. The almighty dollar....
