A new broom is sweeping through Amtrak Express Parcels, clearing out a whole tier of management, tilting at high-tech icons and promising an increase in market share and new growth for franchisees.
In just three months as managing director of the franchised parcels carrier, Jonathan Smith has closed one major hub and carried out a top-to-bottom shakeout, laying plans to reinvigorate a company he confesses was suffering from 'a major hangover.'
'The rumour mill has been working overtime, with all sorts of rubbish being bandied around about Amtrak supposedly being in trouble,' Smith says. 'In fact, thanks to steps we have already taken, Amtrak is less leveraged, stronger and better able to respond to customer requirements than ever before.
'People have been aware there have been funding issues with Amtrak. It was a relatively profitable company that was bought by 3i and a consortium of banks in a deal that left it with a significant debt burden. Business has been good, but because of the …