1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Articles (4624) 

The Bill Ackman Installed CP Rail CEO Begins to Make His Mark - Plans to Lay Off 23% of Workers

December 05, 2012 | About:
Bill Ackman has been shaking up Board Rooms north of the border. At CP Rail Ackman won a proxy fight and installed veteran rail industry CEO Hunter Harrison at the helm of the company.

Harrison isn't wasting much time, and isn't making many friends with the announcement today that 23% of CP employees will be gone by 2016. The Globe and Mail covers the story:

Canadian Pacific Railway Ltd. is slashing close to a quarter of its work force over four years, as recently arrived CEO Hunter Harrison aggressively carves out costs to create a more competitive railway.

Approximately 1,700 jobs will be eliminated by year’s end through layoffs, attrition and the use of fewer contract positions, with up to a total of 4,500 jobs by 2016 – about 23 per cent of the current 19,500 employees and contractors.

Continue reading.
  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

» Take a Free Trial of Premium Membership

About the author:


Rating: 3.7/5 (3 votes)


Please leave your comment:

Performances of the stocks mentioned by CanadianValue

User Generated Screeners

eae010Forward Growth Edited
bpatton23L/Cap value
AJPringAP screen102017 NO LOW
Nightdoc2Large Value
DBrizan2017 oct20CDN
DBrizan2017 oct20CDN dividend
althekearoct 17 user defined screen
althekearPE >50th percentile of INDUSTR
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat