Amtrak warns it could lose hundreds of millions in revenue due to coronavirus outbreak
Amtrak officials announced Wednesday that the company's revenue is falling as consumers cancel trips and avoid future bookings as a reaction to the novel coronavirus outbreak, the Wall Street Journal reports.
The state of play: The company canceled nonstop service between Washington, D.C., and New York, according to CNBC, and plans to announce a voluntary unpaid leave program for nonessential employees, WSJ reports.
What they're saying: Stephen Gardner, Amtrak's chief operating and commercial officer, wrote in a memo to employees that the company expects ticket revenues to decline by "several hundred million dollars" as trip cancellations are up 300%.
- Gardner also told employees to expect considerable reductions in train service due to decreased ridership.
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