Newspaper article The Florida Times Union

World of Business

Newspaper article The Florida Times Union

World of Business

Article excerpt


Norfolk Southern Corp. will eliminate 1,000 to 2,000 jobs over the next year and dispose of 12,000 surplus freight cars to help reduce costs and improve financial performance amid a slowing economy, the company said yesterday.

The job reduction will be in addition to the layoffs and early retirements that affected 3,500 jobs last year and pared the company's payroll to 33,000, spokesman Frank Brown said. It was unclear whether the jobs will eliminated through cuts, early retirements or a combination of methods, he said.

The cost cutting at Norfolk Southern came a day before the company was to report disappointing fourth-quarter earnings and the same day rival freight rail company Burlington Northern Santa Fe Corp. posted a 19 percent drop in profits as shipments declined while fuel costs surged.

Fort Worth, Texas-based Burlington reported net income of $255 million, or 65 cents per share, down from $315 million, or 69 cents a year earlier.

The nation's second-largest railroad still beat the expectation of analysts surveyed by First Call/Thomson Financial, who had an average forecast of 64 cents per share.


Online travel agency Inc. acknowledged yesterday that personal information about some customers was read by some visitors to its Web site.

The breach exposed the names, addresses, phone numbers and e-mail addresses of about 45,000 Travelocity customers, said officials of the Fort Worth, Texas-based company.

Jim Marsicano, Travelocity's executive vice president of sales and service, said the information was stored on a back-office server that was put into use on the company's Web site. The customer information should have been deleted first, but wasn't, he said. …

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