CSX Turns Away Freight to Trucks Amid Struggle to Fill Rail Jobs

CSX Corp. is turning away freight from customers, ceding cargo business to truckers, as the railroad struggles to hire workers, Chief Executive Officer Jim Foote said.

The railroad has about 6,700 train employees and needs to add 300 more, Foote said at a conference sponsored by AllianceBernstein Holdings. That’s not as easy as it was before the pandemic even though railroad jobs pay on average about $130,000 a year including benefits.

The annual attrition rate has jumped to 10% from 7%, Foote said. After accelerating hiring, the company in the last year brought on about 1,000 train workers -- but ...