Canadian Pacific / Ahead of Schedule on Job-Cut Plan

Canadian Pacific Railway Ltd. (CP), the least efficient North American large railroad, is ahead of its plan to eliminate more than one-fifth of its workforce, Chief Executive Officer Hunter Harrison said.

The company already has cut more than 3,000 jobs, Harrison said today at a JPMorgan Chase & Co. transportation conference in New York. He told investors in December that Calgary-based Canadian Pacific planned to trim 4,500 of about 19,000 jobs by 2016, including 2,300 in this year’s first quarter.

“Things are going well,” Harrison said on a webcast of the conference. “The plan is falling together. We’re way ahead of schedule with our workforce reductions.”

Chosen excerpts by Job Market Monitor 

via Canadian Pacific Ahead of Schedule on Job-Cut Plan, CEO Says – Bloomberg.