CP Rail eliminating 4,500 jobs
A Canadian Pacific Railway employee walks along the side of a locomotive in a marshalling yard in Calgary, Wednesday, May 16, 2012. CP Rail to eliminate 4,500 positions by 2016 as part of restructuring. (Jeff McIntosh / THE CANADIAN PRESS)
Published Wednesday, December 5, 2012 6:09AM EST
Last Updated Wednesday, December 5, 2012 6:31AM EST
There Is no word yet on how many jobs will be lost in Ontario, but Canadian Pacific plans to cut one quarter of its workforce by 2016.
The Calgary-based company says it plans to slash 4,500 jobs through cuts, attrition and reducing contractors as part of its restructuring plan.
It expects 1,700 positions to be eliminated by the end of the year among employees and contractors operating in six provinces and 13 U-S states.
CP says it will also explore options including the potential to sell surplus real estate, as well as the Delaware and Hudson line in the U-S Northeast.