March 10 - According to local media reports, CSX has started the process of laying off around 1,000 employees with the majority expected to take place at CSX's Jacksonville, Florida headquarters.

The layoffs come after the company announced it has named former Canadian National (CN) and Canadian Pacific (CP) railways chief executive, E. Hunter Harrison, as its next ceo.

Credited for dramatic turnarounds at CN and CP, Harrison is known throughout the railroad industry as a strong proponent of cutting costs to increase operating margins and boost profitability.