CLAIM #59351 · Union Pacific Corporation (UNP) · 2023Q1 earnings call · Apr 20, 2023 · due Jun 30, 2023
“Net-net, in the second quarter, you're going to see us add to the active TE&Y headcount coming out of the training pipeline.”
Lance Fritz · CEO
In context
“hat you've had that are trained on the system seems like it's been static for a while. And so I'm just wondering what do you think about in terms of where you need to get for TE&Y that are trained in on the system? And I guess, in terms of attrition, has attrition been an ongoing problem has that stabilized? Just thinking about that headcount dynamic and then I guess, how that fits into how you would expect network performance to go from where we are. Lance Fritz : Yes. So Tom, we entered the year saying total headcount hires addition to the TE&Y would look kind of like what it did in 2022 predicated on our plan for volume. Volume is looking a little cloudy right now to us, certainly in the first quarter in the back half. And so of course, that hiring plan is being looked at and adjusted. Net-net, in the second quarter, you're going to see us add to the active TE&Y headcount coming out of the training pipeline. The question really is what the training pipeline look like for the rest of the year? Having over 1,000 in the pipeline is a very strong pipeline for us. In terms of attrition, we tend to have about a 10% turnover in our TE&Y workforce. That really hasn't changed over the course of the last five years. We don't necessarily see it changing right now. So one of the adjustment factors is if we find ourselves getting out over our skis a little too far, attrition can help us suggest quickly. Tom Wadewitz : So it sounds like the, I guess, trained level goes up, but overall headcount kind of static as the training pipeline comes down is maybe the best way to look at it. Jennifer Hamann : I think it really does depend on the volumes to a degree, Scott. And so certainly, as Lance said, the second”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2023Q1 earnings call.