Amtrak CEO Bill Flynn said in a memo to employees Tuesday that up to 20 percent of the company's workforce will be eliminated as an 'essential adjustment' to cope with financial fallout from the COVID-19 pandemic.
Amtrak is planning to lay off up to 20 percent of its workforce by October due to severe financial impacts caused by the COVID-19 pandemic.
"An essential adjustment we must make... is to reduce our workforce by up to 20%," Flynn wrote."This reduction is necessary to ensure we have a sustainable Amtrak that can continue to make critical investments in our core and long-term growth strategies, while also keeping safety as our top priority."
The company is slashing approximately $500 million from its budget in order to offset losses, including $350 from adjustments to the workforce. The rail service employs over 18,000 people.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | Amtrak Prepares to Cut 20% of WorkforceAmtrak is preparing to cut up to 20% of its workforce in the next fiscal year as the national railroad continues to suffer from a huge decline in ridership as the coronavirus pandemic brought most travel to a halt.
Read more »
Amtrak needs $1.5 billion bailout, prepares to cut up to 20% of workforceU.S. passenger railroad service Amtrak said on Tuesday it needs a further $1.475 billion bailout and disclosed plans to cut its workforce by up to 20% in the coming budget year.
Read more »
20 Republican lawmakers file lawsuit against House Speaker Nancy Pelosi over new proxy voting systemA group of Republican lawmakers have filed a lawsuit against House Speaker Nancy Pelosi over the chamber's new proxy voting system, which allows lawmakers to designate another member to vote on their behalf due to the coronavirus
Read more »
NHL scraps 2019-20 regular season over coronavirus, will move forward with 24-team playoff formatNHL Commissioner Gary Bettman announced on Tuesday that the 2019-20 NHL regular season is officially over, and the league will move forward with the Stanley Cup playoffs in two hub cities that will be identified at a later date.
Read more »
Jimmy Fallon apologises for wearing blackface in TV sketch 20 years agoJimmy Fallon has taken to social media to apologise for the Saturday Night Live sketch from 20 years ago in which he impersonated Chris Rock saying there was 'no excuse' for it
Read more »
KFC tests a new chicken sandwich in Florida, offering a 20% larger filetKFC announced an upgraded chicken sandwich will be tested in 15 restaurants in Florida, including cities such as Orlando, Kissimmee, and Mount Dora, and will last until June 21.
Read more »