Union Pacific Trims Management Staff

Union Pacific is trimming the ranks of the railroad's management employees as part of the new CEO's push to eliminate layers of bosses involved in decisions. The Omaha, Nebraska-based railroad said Wednesday that it is eliminating less than 5% of its roughly 5,600 management jobs as part of the move. CEO Jim Vena made streamlining the railroad one of his first priorities after taking the job in August. Everyone who is losing their job was encouraged to either apply for a job helping operate or maintain Union Pacific's trains or stay on for several months to help tackle a special project.