RTR: Union Pacific considering hiring slowdown as economic outlook darkens – CEO

REUTERS reports:

Union Pacific Corp’s (UNP.N) chief executive officer said on Thursday the railroad operator was considering slowing down the pace of hiring in the second half of the year amid a cloudy economic outlook, becoming the latest U.S. company to evaluate its staffing plans.

CEO Lance Fritz told Reuters in an interview the outlook was turning a “little cloudier” for consumer-facing companies, which is making railroad volume difficult to predict.

Commentary from one of the top U.S. railroad operators is the latest sign the U.S. economy is running into troubled waters, with some economists predicting a mild recession.

“The hiring plan is being looked at and adjusted,” Fritz earlier said during an investor call, as it lowered its U.S. industrial production forecast to a decline of 0.7% from a 0.5% fall estimated earlier…

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Q1 23 numbers released today can be found here.

Stock unchanged in a weak market.