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Company News

U.S. railroad Amtrak warns of 2,400 additional job losses without new bailout

Oct 8 (Reuters) - U.S. passenger railroad Amtrak said Thursday that without a new government bailout it could be forced to cut additional train service and cut spending that could lead to the loss of another 2,400 total jobs.

Amtrak last month told Congress it needs up to $4.9 billion in government funding for the current budget year, up from the typical $2 billion in annual support it usually receives. The railroad, which said last month it was cutting 2,000 jobs, warned Thursday without new funding from Congress it would result in the loss of 775 jobs from reduced capital spending and further reductions in train service by state partners would likely result in 1,625 job losses. (Reporting by David Shepardson; editing by Diane Craft)

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