Despite record profits and revenue in 2015, Canada Pacific Rail has announced more than one-thousand job cuts Thursday.

The company announced the move as it adjusts to lower shipment volumes.

CP rail says most of the cuts will be made through attrition and kick in by the middle of 2016.

The rail company eliminated close to 1800 jobs last year, and has cut between 6000-7000 jobs since 2012.

In 2015, CP Rail had revenue of $6.7 B and posted profit of $1.3 B.