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Amtrak announced on Wednesday it is cutting 450 positions in a cost-saving move expected to reduce annual expenses by $100 million. The U.S. passenger rail operator said the reduction includes both filled and open roles, forming part of a broader restructuring plan.
The job cuts come as future federal funding remains unclear. In March, President Donald Trump forced out Amtrak CEO Stephen Gardner, and Amtrak President Roger Harris is currently overseeing operations while the board searches for a new CEO. Billionaire Elon Musk, now advising Trump on government downsizing, has publicly stated that Amtrak should be privatized.
Amtrak relies heavily on federal subsidies, receiving $2.4 billion in 2023. Although Congress approved $2.42 billion in funding through September 2025, political shifts could jeopardize long-term support. In total, the 2021 infrastructure bill allocated $66 billion for U.S. rail projects, including $22 billion specifically for Amtrak over five years.
Despite financial challenges, Amtrak has seen a post-pandemic recovery in ridership. In 2023, it served a record 32.8 million passengers—a 15% year-over-year increase—generating $2.5 billion in revenue, up 9% from 2022. For the fiscal year ending September 30, 2024, Amtrak reported an adjusted operating loss of $705 million, a 9% improvement over the previous year.
The latest cost-cutting measures are aimed at improving efficiency and adapting to fiscal uncertainty, even as demand for train travel continues to grow. With political and economic factors reshaping the future of U.S. rail travel, Amtrak’s financial stability remains under close watch.
