OMAHA - Fifteen percent of Union Pacific Railroad’s 37,500 employees will take steep pay cuts through August, the Omaha-based railroad told its employees Tuesday.

Executives will take a 25% cut from May through August, and employees not covered by union contracts, such as managers, must take unpaid leave for one week each month through August, U.P. said. The unpaid leave will result in a pay cut of close to 25% for those employees.

U.P. spokeswoman Kristen South said the 12-member board of directors, which includes CEO Lance Fritz, will absorb the cut as well. Eleven of those directors received compensation ranging from $46,667 to $356,411 in fiscal year 2019, according to a financial statement. Most board members received in the vicinity of $300,000, the statement said.

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