The Wall Street Journal: Union Pacific to cut nearly 500 jobs by the end of the year

Union Pacific Corp. plans to lay off about 500 employees before the end of the year, the first of several rounds of job cuts as the railroad implements a new operating plan to turn around its performance.

The company, one of two major freight railroads in the Western U.S., has been struggling this year with congestion and service issues that have depressed its profits.

The Omaha, Neb.-based company UNP, -1.88% also plans to eliminate 200 contract positions, according to an internal memo reviewed by The Wall Street Journal. The job cuts will occur across the railroad network. Union Pacific had about 6,300 nonunion employees as of June 30.

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