The board of directors is embarrassed by UP’s recent rating at the worst company in America. They are further disappointed at the rock bottom employee moral. The Unified Plan 2020 has not worked out the way it was promised and more layoffs won’t solve the problem or get BNSF off their back. Expect for the COO to be gone at the start of 2021 and the CEO will follow shortly thereafter. It will then be time to start an apology tour and hire a new CEO.
26 replies (most recent on top)
This company is a joke and it ain’t funny
Zero, in the first sentence the word "their" is improperly used. Also, their wasn't a COO position but goes on to say "Vena COO Czar". The sentence is too long, words are capitalized and others are not. This person is a wanna be.
First of all their wasn't a COO position, Cameran Scott was Exec VP transportation, when he was let go Lischer took over Exec VP, Vena COO Czar now, no home grown uprr folks in charge all have been sent out to the field. By the way the Board likes Vena's direction!!!!! look for more Vena disciples to surface.
She’ll be the marketing supervisor at Starbucks promoting coffee and cookies nationwide.
What about Beth?
Will anyone actually miss them when they do go?
When the covid is over, most fortune 200 companies will return to recruiting students at colleges in person. Not UP. Most universities don’t want them. Not a good career path for their students.
Funny when a know it all gets pwned.
Cameron was EVP and COO.
First of all their wasn't a COO position, Cameran Scott was Exec VP transportation, when he was let go Lischer took over Exec VP, Vena COO Czar now, no home grown uprr folks in charge all have been sent out to the field. By the way the Board likes Vena's direction!!!!! look for more Vena disciples to surface.
I sure hope ol’ 7% is gone by the end of the year.
don't lionize the previous COO because he supposedly didn't agree with PSR. He was manning the helm when they did one of the first big layoffs in Omaha in 2015. had ladies walking with their stuff in boxes crying on the way out the door being escorted out by security like they'd done something wrong.
Yes, the COO's contract ends in Jan and if it isn't renewed "he's gone anyways". That's the point. He requested it to be extended and they said no thanks.
Ok why did it take them so long? The UP has held that rating shortly after PSR began. The morale has been low for way longer than that. If what was said is true, then what do they plan on doing about it? The CEO and COO need to leave immediately and I don't think there will be any arguments on that point. The COO's contract ends in January anyways. So if his contract isn't renewed, then he's gone anyways. The board of directors should've said something way sooner.
@pqr the COO who preceded the current one, for all of his flaws, was opposed to PSR and very much on the side of the employees. Maybe that’s why he was forced out?
I would be pleasantly surprised if what the OP said turns out to be true. I have my doubts. Even if both go, they would probably be replaced with people who are even worse, since UP always chases downward.
You know there’s truth to it because all the UP fanboys are circling the wagons with their drivel.
PQR, I think you are the one that doesn’t want to accept reality. The truth is no one on this forum really knows what’s going on at the board and exec level in regard to extensions, etc. They aren’t going to replace Fritz as long as the company is profitable and the stock price is up. Fritz is doing their bidding implementing PSR, so why would they have a problem with this?
“2020 right sized” 😂 .
The COO asked for a contract extension and was denied that’s a fact.
False , without 2020, the covid manpower slaughter would have been a mess. 2020 rightsizing has maintained
A relative high stock price
Tey, maintenance etc are just expense pawns in this process. They aren’t going anywhere unless they want to quite frankly Fritz might make more than his 15m in 2019
Correct. They don’t want to renew his contract. He didn’t Unify 2020 as promised.
Word from HQ is that the COO will be leaving January 2021. Hes not worried he milked UP for millons and did nothing.
The potential actions of replacing one or both of the top two leaders are currently being discussed by the board. The last COO was forced out and numerous other executives have also been demoted and replaced recently. The fact you may not accept this reality does not change any of it. You can only lay-off so many employees. Now they are looking at more leadership changes.
Unfortunately nothing in this post is true. The board doesn’t care about how the employees feel about the company or the execs, they only care about profits. Glassdoor ratings mean nothing to millionaires who are raking in huge profits. We, as employees of UP care about the horrible treatment of the workforce, layoffs, longer hours, etc, but none of this matters to those who control the companies destiny. It is wishful thinking to believe PSR will go away or the CEO will be replaced. As long as the stock price stays high and the company is profitable the company will continue in the current path.
So stocks are higher than they have been in years. Just acquired a VERY high profile new customer. Metrics (as false as some may think they are) are are unheard of marks all around. Company is thriving in an unprecedented pandemic that has crippled many companies.
Yet, here you are asking if the CEO and COO will be let go!?
Some of the posters on here remind me of that crazy ex boyfriend/girlfriend that stalks your social media for years after and knows every move you make but tries to convince everyone that they aren't the crazy one.
I’m not convinced that the board of directors are embarrassed by, or even notice, the horrible ratings that UP employees give the company or the abysmal state of morale. I’m even less convinced that the CEO or COO will be terminated over either.
The only thing at this point that would cause either to lose their jobs would be a sudden and sustained drop in share price, followed by a significant decline in market cap. If either were to happen, job cuts would shift into overdrive, making an already bad situation (for employees) even worse.
The profits and being driven by selling off assets and other short term fixes that are not sustainable. The leadership will blame any shortcomings this year on the covid, but that won’t be enough for them to keep their jobs.
I wish you were right, but the stock is up, we're not plagued by the network congestion that BNSF is having issues with, and we're putting locos back in service to deal with our increased share of intermodal business. We're also meeting the majority of metrics that are our goals for UP2020. This is a miserable place to work with more negativity and the lowest morale of anyplace I've ever worked, but rest assured the Board of Directors couldn't care less. This place is in business to make money, and they're doing it.
I hope so!! Something has to change. Might as well start at the top!!