BNSF executive: About 4,600 employees furloughed nationwide

BILLINGS (AP) — The chairman of BNSF Railway says about 4,600 railroad employees are furloughed nationwide due to declining oil prices and a reduced demand for coal.

Matthew Rose spoke Wednesday during the Montana Energy conference in Billings.

He said the furloughs amount to about 10 percent of the railroad’s workforce, about the same level of furloughs it had in 2007 and 2008 — the beginning of the Great Recession.

Matt Jones, regional spokesman for the company, said the furloughs are all over the company's area, but there has been no breakdown on the effect at the railway's Hi-Line operations.

Rose says the railway’s volumes were down 3 percent in 2015 and the company is bracing for a few tough years.

He says the Fort Worth, Texas-based company has stopped hiring and is offering buyouts to older employees.