Transportation company CSX (CSX) - Get CSX Corporation Report is said to be laying-off 1,000 management positions, according to First Coast News. The layoffs include both company headquarters and field positions and are the result of an "involuntary separation program," according to a company spokesperson.

CSX let employees know about the layoff decision in an email, and the impacted employees will be notified by mid-to-late March.

This announcement came on the same day that company CEO Michael Ward and President Clarence Gooden said they will retire at the end of May.

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