CLAIM #59448 · Union Pacific Corporation (UNP) · 2023Q3 earnings call · Oct 19, 2023 · due Oct 19, 2025
“Yes. But Jim, I do think it's safe to say, once we have those deals implemented and we're working to drive the productivity. Our long-term view is that we can grow volumes faster than we grow headcount.”
Jennifer Hamann · CFO
In context
“g with BLET. And we haven't concluded negotiations with SMART-TD on what that does. So we have to see how that goes. The general way I see it, though, is that we do want to see a more productive workforce in the company as we move ahead. But I would be remiss to tell you without those collective agreements in place of exactly what the time line is. But you know me by now that I always look at what do we need of the railroad and is at the right level to be productive with it. So I'll do everything I can. But with those outstanding items, we still -- there's -- I just can't give you a black-and-white answer of what the time line is and how fast those changes go to where I want to take it. It might take a little bit longer than when -- if we didn't have those deals in place. Jennifer Hamann: Yes. But Jim, I do think it's safe to say, once we have those deals implemented and we're working to drive the productivity. Our long-term view is that we can grow volumes faster than we grow headcount. Jim Vena: Absolutely. Christian Wetherbee: Okay. Thanks for the time. Appreciate it. Jim Vena: Thanks, Chris. Operator: The next question is from the line of Brandon Oglenski with Barclays. Please proceed with your question. Brandon Oglenski: Hey, good morning, and congrats, Jim. So Jim, I guess, I think if we look back over the last number of CEOs at Union Pacific, the disappointment that I think probably all of them would share would be lack of relative volume growth and as I'm looking at my model here, I think RTMs this year are probably going to end up being down more than like 25% from where this company peaks way back in 2006. So as much as we're talking about service and the ability to grow and the pipeline looks strong, like we've heard that before. So what is different looking fo”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2023Q3 earnings call.