Yeah, David, look, we feel comfortable right now with our current headcount levels. We may see an uptick in the T&E labor in Q2 to Q3, where we see generally a little bit of higher volume and some peak vacation time.

Apr 22, 2026 / receipt

Yeah, David, look, we feel comfortable right now with our current headcount levels. We may see an uptick in the T&E labor in Q2 to Q3, where we see generally a little bit of higher volume and some peak vacation time.

Apr 22, 2026 / receipt, needs a key / Mike, other | earnings call 2026-04-22 | transcript 2b450ed0-fa0c-45ee-ae69-7f14d71aea17 | chars 52210-52426 | segment 53

And I'm fully confident given all of the things that we're doing that every incremental dollar of revenue that Mary Claire and her team are able to deliver that will come in at a very, very high, um, incremental margin, um, given all the costs, uh, things that we're focused on, you know, going back to the a hundred, you know, different opportunities, that's really across everything, um, from vehicle spend to overtime, you know, focused on rental equipment, travel, Mike and his team, um, Doug, Casey, um, Terry, all of them have brought ideas to the table.

Jan 22, 2026 / receipt, needs a key / unidentified speaker, other | earnings call 2026-01-22 | transcript d53f5a86-8fc4-43e3-94bf-7bba432cb129 | chars 45321-45881 | segment 45

He's also got a team looking very closely at how do we increase retention across the craft workforce, T&E in particular. There's significant costs in training those employees, and retention is extraordinarily important, not just from an operating standpoint, but also from a cost and efficiency standpoint.

Aug 5, 2024 / receipt, needs a key / Sean, CFO | earnings call 2024-08-05 | transcript c63e06a6-6815-44cb-b909-c5f6ed876a31 | chars 39976-40282 | segment 40

And we, you know, we absorbed one and a half GTMs, 3%, whatever you want to call it, without any more T&E headcount.

Apr 17, 2024 / receipt, needs a key / Sean, CFO | earnings call 2024-04-17 | transcript 6174b69d-cdff-4292-9959-b92e8e770ac6 | chars 28437-28553 | segment 29

And that's on the T&E side. Of course, we are still doing locomotive engineer training as we move forward. It's the right thing for us to do so we don't get ourselves in a situation where we're short on engineers in the future. But you recycle conductors to make engineers. And we're always hiring on our engineering side of the house and mechanical side. as we continue to look at that high end on the union side.

Apr 20, 2023 / receipt, needs a key / Chris Weatherby, other | earnings call 2023-04-20 | transcript efd1d06d-e7e0-4e92-a700-f0fbe4e4828c | chars 38905-39319 | segment 38

So our numbers are at a pretty good point. I don't see any large jumps at all. If anything, it's more just maintaining where we're at. And if we need to look at if things really go in a different direction, we know that we've got that 10% attrition rate. We've committed to our T&E folks that we're going to keep them gainfully employed as long as we can through whatever we need to weather. any storms. We don't necessarily see any storms ahead of us, but we don't know what the markets show, obviously. But if we need to, we can pull that trigger on hiring really quick.

Apr 20, 2023 / receipt, needs a key / Chris Weatherby, other | earnings call 2023-04-20 | transcript efd1d06d-e7e0-4e92-a700-f0fbe4e4828c | chars 39320-39892 | segment 39

Now turning to hiring. A robust training pipeline and over 350 conducted promotions over the fourth quarter allow the team to achieve our long-stated goal of 7,000 active T&E employees. Getting our resources to this level has driven the service momentum Joe discussed a few minutes ago, and it will continue to support improved service into 2023. Going forward, we expect to stabilize active T&E headcount with targeted hiring continuing for key locations and to offset attrition.

Jan 25, 2023 / receipt, needs a key / Jamie, other | earnings call 2023-01-25 | transcript 88a8e641-a10a-4b41-a4a0-e2deb5269ab0 | chars 11083-11563 | segment 11

In the third quarter, active T&E headcount reached the highest level since March 2020. Though the quarterly average shows a sequential increase of less than 100 employees, we exited the quarter with over 6,800 total. The hiring pipeline remains robust, and we averaged over 500 trainees again in the third quarter. We are determined to keep the pipeline full allowing us to continue filling classes as we work towards our goal of 7,000 active T&E employees by year end.

Oct 20, 2022 / receipt, needs a key / Jamie Boychuk, Executive Vice President of Operations | earnings call 2022-10-20 | transcript dd6f4076-de56-4ffe-8b0d-17ba72c6bab4 | chars 12957-13426 | segment 13

Conductor promotions will continue to increase the active T&E headcount. Our efforts to minimize attrition that we highlighted in the last quarter are bearing fruit. New hire attrition in the preceding months have trended lower, and we believe our hiring initiatives and recent pay agreements for new conductors are a contributing factor.

Oct 20, 2022 / receipt, needs a key / Jamie Boychuk, Executive Vice President of Operations | earnings call 2022-10-20 | transcript dd6f4076-de56-4ffe-8b0d-17ba72c6bab4 | chars 13840-14178 | segment 14

But we, you know, on the T&E side, and I'm going to keep emphasizing that, it's a very important position like any other in the company, but it takes us four to six months to make a train conductor. And if we get softening market and we come out of this, we are going to be prepared to handle all the traffic that comes back at us.

Oct 20, 2022 / receipt, needs a key / Jamie, other | earnings call 2022-10-20 | transcript dd6f4076-de56-4ffe-8b0d-17ba72c6bab4 | chars 49355-49686 | segment 50

So as a team, I think we would all sit down and have that discussion, and we would make sure that we right-size our assets, and railroads are always heavy on assets, so we've got a lot of great cost savings we can do on that end. But all in all, we want to protect that T&E workforce and forward-looking, and if some type of a softening in the market comes, we're going to be prepared to come out of it strong. We're going to be prepared to get all the traffic that's out there, and we're going to come out of this stronger than we ever have if we get into that situation.

Oct 20, 2022 / receipt, needs a key / Jamie, other | earnings call 2022-10-20 | transcript dd6f4076-de56-4ffe-8b0d-17ba72c6bab4 | chars 38249-38821 | segment 39

As we mentioned last quarter, it is critically important to instill a culture of safety in our new T&E employees from day one. That emphasis on safety does not end when new employees graduate from training. It requires continuous attention throughout every railroader's career. To reinforce this, we are actively engaging with new hires and all of our employees in the field to discuss recent injuries and accidents to ensure that we take each opportunity to learn from each other.

Oct 20, 2022 / receipt, needs a key / Jamie Boychuk, Executive Vice President of Operations | earnings call 2022-10-20 | transcript dd6f4076-de56-4ffe-8b0d-17ba72c6bab4 | chars 10865-11346 | segment 11

Continued discipline on safety and building on operational productivity

ir_statement / Sep 14, 2026 / receipt

Labor costs increased $40M as productivity partially offset $90M in higher incentive compensation and labor inflation

ir_statement / Sep 14, 2026 / receipt

PS&O costs decreased $66M due to broad efficiency savings, moderate asset sale gain, and cycling of network re-route costs

ir_statement / Sep 14, 2026 / receipt

Higher y/y fuel expense reflects higher diesel prices, partially offset by improved efficiency

ir_statement / Sep 14, 2026 / receipt

Improvement in PS&O expense includes efficiency savings of $50M, real estate gains of $44M, and $20M from cycling prior year network congestion costs

ir_statement / Sep 14, 2026 / receipt