De Soto Railroad Employees Furloughed by Union Pacific
May 11, 2020 7:00AM CDT
(De Soto) In a press release from Union Pacific railroad, most of the employees at the company’s car shops in De Soto have been furloughed and the facility has been temporarily closed.
Union Pacific plans to look over and reevaluate business plans the week of May 18th to decide whether or not operations at the De Soto location will resume on June 1st.
In the first quarter of 2020, Union Pacific reported a net income of $1.5 billion, which is around $100 million higher than the first quarter of 2019.
Union Pacific expects second quarter 2020 carload volumes to be down around 25 percent, compared to the second quarter 2019.
