Freight railroad Norfolk Southern
NSC,
said in a staff memo Thursday that it is laying off 7% of its non-union workforce amid a tough freight cycle.
Workers affected include management and administrative staff. Based on Norfolk Southern’s employment data provided to the Surface Transportation Board, this would roughly translate to a reduction of around 330 workers.
“The overall macroeconomic environment and prolonged weak freight market has limited the amount of business we can attract, and our cost structure is too high for our top line,” Norfolk Southern CEO Alan Shaw said in the memo. The company added that it is offering a voluntary separation program.
Transportation companies have faced lower freight and parcel volumes last year and some have lowered headcount.
This story originally appeared on Marketwatch
