Tag: Railroad Rolling Stock

Alstom to Cut Jobs, Scrap Dividend to Accelerate Debt Reduction
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Alstom to Cut Jobs, Scrap Dividend to Accelerate Debt Reduction

Updated Nov. 15, 2023 3:27 am ETAlstom plans to cut around 1,500 jobs and scrap its dividend as part of a cost-savings plan to reduce debt and boost profitability.The French train maker said Wednesday that it is also considering equity and equity-like issuances, as well as a capital increase, among potential options to accelerate its debt-reduction plans.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Delays in Acela Upgrade Have Cost Amtrak $140 Million…and Counting
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Delays in Acela Upgrade Have Cost Amtrak $140 Million…and Counting

Listen to article(2 minutes)The three-year wait for Amtrak’s overdue new Acela train fleet has cost the railroad $140 million and counting, documents show, a setback for a company that has vowed to improve its stewardship of taxpayer money.As France-based trainmaker Alstom struggles with testing requirements and production defects on the $2.3 billion program to replace the Acela trains, Amtrak has had to spend millions of dollars in maintenance costs to keep its aging, existing fleet in operation. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8