Today the Alaska Railroad Corporation (ARRC) announced the elimination of 54 positions as part of a major corporate restructuring effort.
ARRC has experienced a $45 million negative swing in finances from 2011 until now.
Contributing factors include:
· a significant drop in revenue from key freight customers (coal and petroleum)
· millions less in federal funding, along with a jump in required matching funds
· at least $15 million per year to implement a positive train control (PTC) system as required by an unfunded federal mandate.
"Employees from across the company have examined the way we do business, helping to find greater efficiencies wherever possible," said ARRC President and CEO Chris Aadnesen. "Our team took the utmost care to ensure reductions would not negatively affect the way we interact with customers. We will continue to provide the exemplary service our passengers, freight and real estate customers have come to expect from the Alaska Railroad, as a positive icon of this great state."