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CSX Corp. plans to trim about 300 management positions at its Jacksonville, Fla., headquarters, primarily by offering buyouts through a one-time voluntary separation program.Employees who are at least 53 years old and have at least 19 years of service by year's end are eligible for the program. CSX employs about 3,600 people at its headquarters."Those employees who decide to take advantage of the voluntary program have two options: either a credit of two years of age and one year of service for retirement purposes, or a one-time separation payment of one year's salary," said CSX spokesperson Melanie Cost in an email. "If the objective is not met through the voluntary separation, an involuntary program may follow in January. However, we hope to do as few involuntary separations as possible."The program will help the Class I reduce nonessential costs, primarily across headquarters functions, and is part of the company’s long-term planning, she said."The decision has been made to streamline the management organization to better reflect the realities of the company’s current and future markets," said Cost. "This will help assure that CSX will continue to deliver compelling shareholder value, with superior safety, customer service and efficiency."
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