The Calgary-based railway is focused on “containing costs on all fronts, in tough ways,” the newspaper said, citing an internal company memo. The cost-cutting measures were announced to employees during a meeting in Calgary. The job cuts amount to 3.8 percent of its workforce of 16,000.
Source : Bloomberg
[tags : recession bankrupt collapse retrenchment financial news collapse stagnation economic slowdown financial collapse world recession global recession layoff job cut]
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