CSX operates a large rail-based freight network in the Eastern United States and Canada, moving coal, chemicals, automotive parts, and consumer goods. It also provides intermodal and rail-to-truck transload services to offer end-to-end logistics solutions. Revenue comes from charging for freight transportation based on the volume and type of goods moved. Its goal is to move goods efficiently and reliably by coordinating rail, intermodal, and transload services to keep supply chains flowing.
Company Size
10,001+
Company Stage
IPO
Headquarters
Jacksonville, Florida
Founded
1827
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US railroad CSX announces hundreds of track maintenance worker layoffs. Bill mertz 4 hours ago. Track maintenance workers at CSX are being "rewarded" for their contributions to a record-setting second quarter with 165 job cuts and as many as 1,062 furloughs in the maintenance of way department. These workers build, maintain and inspect the tracks that run through many communities and cities in the eastern half of the United States, where CSX is one of only two Class I railroads with a substantial presence. On July 22, 2026, CSX announced second quarter operating income of $1.51 billion and net earnings of $1.00 billion, or $0.54 per diluted share. This was up from the second quarter of 2025, where the company reported operating income of $1.28 billion and net earnings of $829 million, or $0.44 per diluted share. On a year-over-year basis, operating income increased 17 percent, net earnings 21 percent, and EPS increased 23 percent. Total volume of 1.68 million units for the quarter was 6 percent higher compared to second quarter 2025. Revenue totaled $3.94 billion for the quarter, increasing 10 percent year-over-year. The shareholders and executives are awash in record revenues while workers prepare for a cold winter of layoffs. On September 11 the Brotherhood of Maintenance of Way Employees Division of the Teamsters (BMWED) announced on their website that CSX "is moving forward with 165 permanent MOW position abolishments, the closure of multiple headquarters and as many as 1,062 projected furloughs overall, including approximately 900 BMWED members assigned to system gangs that are expected to be cut off. System gangs are not expected to restart until late February. In one location, CSX plans to reduce the workforce from 12 employees to four while leaving those four responsible for 142 miles of mainline track and multiple yards." These job cuts come after years of the company's policy of refusing to fill maintenance of way vacancies as workers retire, are fired or quit. Attrition accelerated after CSX adopted Precision Scheduled Railroading (PSR) under the late CEO Hunter Harrison in 2017. The system drives down the operating ratio by cutting staff and assets, running longer trains and increasing the amount of work extracted from the remaining workforce. A 2022 Government Accountability Office report found that employment at the seven Class I railroads fell by about 28 percent between 2011 and 2021 and noted that CSX continued reducing its workforce after implementing PSR. Often local maintenance forces have diminished to only two track inspectors and one section gang of two to four workers responsible for 100 or more miles of railroad. System production gangs are CSX's traveling heavy-maintenance forces: rail gangs replace worn rail, tie gangs remove deteriorated ties and install new ones and curve-patch gangs replace heavily worn rail through curves. They operate as mechanized production lines with dozens of workers and specialized machines, carrying out large-scale track renewal that the small local section gangs cannot perform at the same scale. Cutting these gangs off early therefore means limiting or postponing part of CSX's planned heavy track-renewal program, not simply shifting the work to other crews. One CSX maintenance of way worker told the WSWS, "The three rail gangs are being abolished at the end of this month, September, and tie gangs and curve patch gangs are being cut off in October and November with only some going into December. In previous years they all mostly worked into December." Workers often save vacation till the end of the year, then expect to begin in early January when the gangs would restart production for the new year. Another CSX worker expressed his rage at the job cuts: "This is corporate greed, plain and simple. If a corporation can afford $5 billion in stock buybacks, then it can afford to maintain its labor force without layoffs. This is a direct transfer of wealth from the working class to the owner class. Unfortunately, for us the federal government has no appetite to regulate this type of exploitation." CSX's present management was installed amid direct pressure from Wall Street. In August 2025, activist hedge fund Ancora Holdings demanded that CSX pursue a merger or replace CEO Joe Hinrichs. CSX replaced Hinrichs with Steve Angel the following month. Ancora publicly welcomed the decision and said it expected Angel to find a merger partner. The pressure on CSX forms part of a broader drive toward consolidation. Union Pacific and Norfolk Southern are seeking approval for an $85 billion merger that would create the first coast-to-coast US freight railroad. After initially rejecting the application as incomplete, the Surface Transportation Board accepted a revised application in May and in August opened the merits phase of its review. The merger application itself includes detailed exhibits on positions to be abolished, created or transferred as the two systems are combined. Angel's compensation is tied directly to the interests of shareholders. CSX gave him a $1.5 million annual salary, a $10 million sign-on equity award and eligibility for a $13.5 million long-term incentive award in 2026, along with corporate housing and up to $200,000 a year in personal use of company aircraft. BMWED is choosing to grovel before the capitalist state: "We will bring these cuts and their safety implications to the Federal Railroad Administration, the Surface Transportation Board and Congress. We will document deferred work, staffing shortages, excessive territories, heavier workloads and any unsafe conditions created or worsened by these cuts. We will make sure regulators, elected officials and the public understand exactly what CSX is doing." The appeal is directed to the same institutions that have overseen the destruction of railroad jobs for years and, in 2022, intervened to prevent a national rail strike. The bureaucrats will not initiate independent action. In 2022, BLET members voted 99.5 percent to authorize strike action, while overwhelming opposition to the Presidential Emergency Board settlement spread throughout the industry. After four unions rejected the agreement, the rail union apparatus kept workers on the job through repeated extensions and delays until Congress imposed the contract and outlawed a strike. The agreement resolved none of the underlying staffing and scheduling issues created by years of PSR cuts. The opposition erupted again in 2024, when the unions tried to pre-empt national bargaining with separate carrier-by-carrier and craft-by-craft agreements. BMWED members at CSX rejected the first agreement by 1,330 votes to 616, while Norfolk Southern conductors rejected a SMART-TD agreement by more than 81 percent. BNSF conductors also voted down their agreement. BMWED then returned to CSX workers with a second agreement containing only minor changes. In both contract rounds, the union bureaucracies divided workers by craft and carrier and prevented the opposition from developing into unified national action. BMWED is following the same course against the present cuts: regulatory appeals and documentation of the consequences, while CSX dismantles jobs and maintenance programs. An industrial campaign against the layoffs would immediately raise the need to unite maintenance workers with engineers, conductors, signalmen, machinists and other crafts across CSX and the other Class I railroads. The repeated contract rejections show the depth of opposition among railroaders. The strike at National Steel Car (NSC) in Hamilton, Ontario points toward a fight across carriers and borders. Workers at this facility construct rail cars that are employed across North America. These workers have been fighting for higher wages and an end to an exploitative and unsafe piece work system that has resulted in the deaths of three workers between 2020 and 2022. Workers formed a rank-and-file committee and are currently struggling against the USW bureaucrats' efforts to betray the strike. The USW has reacted with hostility to the rank-and-file committee, fearful the struggle will spiral out of their control. The NSC rank-and-file committee has called for railroad workers to not handle NSCX cars - do not move them, do not load them, set them out. The NSC rank-and-file committee calls for solidarity with North American railroad workers and the international working class. Railroad workers should take up this appeal by building rank-and-file committees independent of the union apparatus and preparing common action against layoffs, unsafe conditions and the restructuring of the rail industry in the interests of Wall Street. The attack on more than 1,000 CSX maintenance jobs concerns every railroad craft: fewer workers and less track renewal mean heavier workloads and more dangerous conditions throughout the network.
CSX Blue Ridge recovery wins AREMA's 2026 Hay award. During the general session at AREMA's annual conference and exhibition in Kansas City, Missouri, AREMA officials presented the award to CSX for the major recovery operation the Class I undertook following the impact of Hurricane Helene in late September 2024 and the flooding that followed, which damaged about 60 miles of CSX's network. The effort to restore rail service through the damaged regions of Tennessee and North Carolina was completed in under a year and involved over 50 contractor teams. Crews removed track materials that were washed away in flood water, reconstructed railbed and track and restored three bridges, among other recovery efforts. AREMA created the award in 1999 to honor rail infrastructure projects that best address safety, innovation and service performance reliability. The annual award is named for the late William Walter Hay, a longtime AREMA contributor and professor of railway civil engineering at the University of Illinois Urbana-Champaign. There were nine submissions for the award this year. CSX created a video about the recovery project as part of its submission; it can be viewed here.
CSX upgrading switches at Queensgate yard. CSX is conducting a major infrastructure upgrade at its Cincinnati Queensgate Yard that will add 42 power-operated switches on the north end of the yard, bringing the total number of powered switches at Queensgate to about 170, company officials said in an online post. Power-operated switches allow train routes to be set remotely. Reducing the need for manual line switches in the field will help improve safety, efficiency and reliability across one of the railroad's most active freight hubs, CSX officials said. "This is really about making the railroad safer, more efficient and more standardized," said Ryan Raymond, CSX director of hump yard operations, engineering and design. "Being able to work with the teams, keep them safe and improve the operation is always going to be our highest priority." The upgrade is expected to further strengthen operational performance by improving the flow of rail traffic and supporting more consistent yard operations.
O'Hare to the Loop in 15 minutes? This company thinks it can finally bring fast rail to Chicago. The key to success, owners of the proposed O'Hare Flyer say, is using newly freed-up freight railroad land at a Union Pacific yard on the Near West Side. Aug 25, 2026, 10:21am PDT People have tried and failed over the years to build a nonstop, quick rail connection from the Loop to O'Hare Airport. Think of Elon Musk's proposed crosstown tunnel from the unfinished superstation in the basement of Block 37. But a new company says it can succeed where others have failed. It calls its concept the O'Hare Flyer. The company envisions a 15-minute trip from the Old Post Office to O'Hare on battery-powered trains leaving every 15 minutes at an average speed of 80 mph - and with tickets much cheaper than a rideshare. The $2.25 billion pitch is from veteran Chicago train consultant Mark Walbrun - who led the redesign of Chicago Union Station in the 1990s - and co-founders David Lundy, a strategic consultant, and Kristi Lafleur, former director of the Illinois Tollway and former CEO of the Chicago Skyway. "Everyone who's tried to do this is replicating the Blue Line... or a tunnel like Musk... None of that works," said Lundy, O'Hare Flyer's CEO. The key to success, they say, is using newly freed-up freight railroad land at a Union Pacific yard on the Near West Side. It's now possible for a private company to run quick crosstown service - through the West and Northwest sides - with minimal construction on 100% dedicated tracks, they said. "This is the only way we can make this happen," Lundy said. They plan to build a station just west of the Old Post Office, using the long abandoned tracks under Canal Street. Heading to O'Hare, trains would initially go south and turn west near Roosevelt Road, where they'd navigate a mix of CSX and UP rail lines before turning north on Canadian National tracks, which would be expanded with an additional dedicated track. Trains will run along a single track, except for 6 miles of double track midway along the route so trains can pass each other, Lundy said. At O'Hare, the company plans to build a 90-foot track flyover above the two-plane taxiways that cross over Interstate-190. Tracks will have to be built along the ring road, with a platform covering the length of Terminal 2, with easy connections to Terminals 1 and 3, and a short distance from the "people mover" connection to Terminal 5. O'Hare Flyer has a tentative agreement with freight company CSX, and "a pathway to 'Yes' " with CN and UP, Lundy said. Their team also has briefed Mayor Brandon Johnson, whose Aviation and Transportation departments must approve the construction of tracks near the Old Post Office and O'Hare. Johnson, in a statement, said the proposal "is just the latest evidence of the growing confidence private investors" have in the city, and that his "administration looks forward to further discussions with those seeking to make transformative investments in Chicago." The project could be finished in five years, Lundy said, and preliminary construction could begin next year. The trains could be similar to the battery-powered ones recently ordered by Metra, made either by Stadler or Siemens Mobility. Those trains have a top speed of 120 mph and can go 60 miles on a single charge, well beyond the 20 miles between O'Hare and Downtown. The fare for each trip hasn't been set, but will be more than the Blue Line but less than an Uber, Lyft or other rideshare service, which typically costs over $50. Four trains would operate simultaneously and run daily from 4 a.m. to 10 p.m. As for the $2.25 billion price tag, the company said this will be a mainly commercially funded venture. It would not say how much it's raised, but the company said fundraising shouldn't be a problem once its get the final OKs from the city and rail companies. Any construction timeline depends on those final approvals and the community engagement process, which could begin soon after the Downtown station design in the next few months. The project could be a major win for Chicago, if completed, said Joseph Schwieterman, director of DePaul University's Chaddick Institute for Metropolitan Development. "A remarkable set of opportunities have opened up to make this possible," he said, citing the available freight tracks and private financing. And battery-powered train technology is finally feasible, he said, "that's much more affordable than some of the pie in the sky proposals of the past." In 2018, Musk was chosen by Mayor Rahm Emanuel to build an underground tunnel from Downtown to O'Hare, with then-untested "Hyperloop" technology that promised 12-minute trips, $25 each, in autonomous vehicles racing over 100 mph. The project fell through after Emanuel chose not to seek reelection and Musk was scrutinized for smoking pot on Joe Rogan's podcast. Schwieterman said there are several risks around the O'Hare Flyer: its reliance on debt financing, the need for strong ridership to pay the bills, the potential for construction cost overruns and the reliance on a single track for most of its service. Chicago's business community has long wanted a quick, direct rail link between Downtown and O'Hare, Lundy said. A trip on the CTA Blue Line train can take over an hour, sometimes, between Downtown and the airport. Phil Clement, president and CEO of World Business Chicago, said he has been working with the O'Hare Flyer team for over a year. "If realized, this investment will strengthen [Chicago's] competitive position across business and tourism," he said in a statement. Walbrun said he has been thinking about an O'Hare rail link for two decades. Dozens of major cities worldwide have them - but Chicago doesn't. "If we're a world-class city," Lundy said, "let's have a world class transportation system." Chicago Sun-Times Reporter/assistant news editor
Freight rates are rising due to capacity constraints rather than demand surges, according to Q2 earnings from major trucking and rail carriers. A FreightWaves analyst expects the capacity-driven tightening to continue through at least 2027. JB Hunt reported 19% year-over-year revenue growth, beating earnings estimates by nearly 10%, driven primarily by intermodal. Knight-Swift exceeded expectations with 12.6% revenue growth and noted regulatory pressures forcing non-compliant capacity from the market. Spot rates currently sit at $3.53 per mile versus an annual average of $2.79, whilst contract rates have risen 18% year-over-year. Tender rejections remain elevated at 15.44%. Three Class 1 railroads posted strong results, with Union Pacific, CSX, and Norfolk Southern reporting revenue growth between 10% and 12%.