CSX lays off 52 management workers in Jacksonville

CSX Corp. laid off 52 management workers, all of them in Jacksonville, according to a company spokeswoman.

The company finished the round of layoffs Monday, spokeswoman Melanie Cost said.

"This is all related to the fact that we're in a competitive industry," she said. "The separation of the employees was difficult - it's a difficult decision."

The employees were offered a severance package that gave them a choice between a lump sum and an annuity, Cost said. The size of the severance was related to their salary and how long they worked at CSX. The company is also giving them access to a career planning service.

CSX, which had 3,600 employees in Jacksonville and about 32,200 nationwide at the end of last year, has combined some positions and implemented new technology in order to streamline workflow, Cost said. No more layoffs or buyouts are planned, she said.

In November, CSX said it planned to cut 300 management workers by the end of 2014 to reduce expenses, offering a buyout package to employees who were older than 53 and had at least 19 years of experience with the company.

Earlier this month, CEO Michael J. Ward said the company would have to resort to layoffs to achieve its goal of eliminating 300 jobs. The buyout offer was accepted by 298 employees, but the company decided to refill some of those jobs, he said.

CSX made $491 million in net earnings in the fourth quarter of last year, according to SEC filings. That's up from $426 million in the fourth quarter of 2013.

The company's revenue was almost $3.2 billion in fourth quarter 2014, up from $3 billion the year before. In an earlier interview, Ward attributed rising revenues to the recovery of the national economy.

In 2014, CSX hired workers as its business expanded, Ward said. That caused its labor costs to rise by 13 percent that year.

Richard Webner: (904) 359-4370