TRANSPORTATION

Union Pacific Corp. to Take Big Charge: The company said its board has approved a $575-million after-tax charge against third-quarter earnings for restructuring, most of which will involve cutting the size of its railroad crews and shedding thousands of miles of railway lines. The Bethlehem, Pa.-based company said it plans to cut 3,000 to 4,000 jobs in the next three to five years as part of the restructuring. Richard Davidson, president of the Union Pacific Railroad unit, said 2,000 to 3,000 of the job cuts will come from train crews and the remaining 1,000 from other areas.