CSX, one of the nation's largest rail freight haulers, is turning away freight from customers and ceding this cargo business to truckers because the railroad is having trouble filling out its workforce.
CSX CEO Jim Foote told a conference sponsored this month by AllianceBernstein Holdings that CSX needs to add 300 workers—in jobs that pay an average of $130,000 a year including benefits—to its current workforce of 6,700 in order to work at full capacity, Bloomberg reported.
According to Foote, the annual attrition rate in the industry has jumped to 10% from 7%. CSX hired 1,000 train workers last year, but it wasn't enough of an influx to keep pace with the attrition rate, Foote said.
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