Railroad operator Canadian National lays off 400 managers, Globe and Mail reports

Oct 30 (Reuters) - Canadian National Railway CNR.TO has laid off about 400 managers at its rail offices across Canada and the United States amid a freight downturn due to the trade war, the Globe and Mail reported on Thursday.

Earlier this month, U.S. President Donald Trump said he would hike tariffs on Canada by 10% above the 35% already imposed in August this year.

The region's economy has suffered from sector tariffs of 50% imposed this year on steel and aluminum from all countries.

"CN has been adjusting its unionized and management headcount across Canada and the U.S. to reflect the business environment," the company said in a statement, without disclosing the number of people impacted.

Reuters could not immediately verify the number of people affected.

The railroad company, which connects Canada's Eastern and Western coasts with the U.S. Midwest and the Gulf Coast, is set to report third-quarter results on October 31.

In its second quarter, CN pulled its forecast for 2024-2026, citing high level of macroeconomic uncertainty and volatility related to evolving trade and tariff policies.