TORONTO — Canadian Pacific Railway will eliminate some 4,500 employee and contractor positions by 2016, the new chief executive of Canada’s second largest railway announced Tuesday.
Chief executive Hunter Harrison said they have already made progress and expect 1,700 positions to be eliminated by year end.
CP’s total workforce is 19,500, which includes employees and contractors. The Calgary, Alberta-based company said the reductions will be achieved through job cuts, attrition and fewer contractors as part of its restructuring plan.
Harrison is an American-born retired CEO of Canadian National Railway and is credited with turning the Montreal-based company into the most efficient major railway in North America.