Railcar manufacturers are slashing costs as the pandemic deals another blow to an industry already struggling with an oversupply of cars and declining freight traffic. Newsletter Sign-up CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Other railcar makers, including Greenbrier Companies Inc., also have scaled back staff and operations to slash costs in recent months. The boom in energy markets spurred investment in railcar manufacturing, analysts said. The pandemic is adding to the pressure the industry faces, as coronavirus-related shutdowns further crimp demand for transporting energy and motor vehicles, Mr. Marchetto said.

Source: Wall Street Journal September 06, 2020 12:56 UTC