20-year-old rail transportation company announces widespread layoffs

Industry Overview - Personal vehicles have surpassed rail travel as the primary mode of transportation for Americans, but the U.S. still maintains a robust rail network of nearly 140,000 miles of track [1] - Approximately 40% of long-distance freight in the U.S. is transported by rail [1] Employment and Economic Impact - The rail industry directly employs 153,000 workers, with total employment including supply chains and consumer spending reaching approximately 750,000 [3] - Freight railroads invest over $23 billion annually, contributing to a total of $1.4 trillion in infrastructure investment from 1980 to 2024 [6] - The rail industry generated $223 billion in total economic output in 2023 [6] Company Specifics - Railcrew Xpress, a transportation service provider for rail workers, is set to lay off nearly 20% of its workforce, amounting to over 400 positions [5][8] - The company has filed Worker Adjustment and Retraining Notification notices in Virginia, Georgia, and Florida due to contract cancellations leading to closures and layoffs [5][7] - Founded in 2005, Railcrew Xpress operates in 25 states and currently employs around 2,000 staff members [8]