CSX Finalizes Early Labor Agreements, Securing Wage Increases and Enhanced Benefits
21 Agosto 2024 - 4:16PM
CSX Corp. (NASDAQ: CSX) announced today that the railroad has
reached tentative agreements on new five-year collective bargaining
agreements with the Transportation Communications Union (TCU), the
Brotherhood of Railway Carmen (BRC), and General Committee of
Adjustment GO-049 of the International Association of Sheet Metal,
Air, Rail and Transportation Workers – Transportation Division
(SMART-TD), representing train service employees on the Northern
Mid-Atlantic District territory of the CSX system.
“I want to recognize the labor leaders who have
stepped up to serve the best interests of their members and our
employees in getting these historic deals done well in advance of
their contracts even coming open for negotiation,” said Joe
Hinrichs, president and chief executive officer. “CSX and our labor
partners understand our employees don’t want to wait several years
for their next pay raise. We thank the organizations for working
with us to demonstrate that our ONE CSX culture and values aren’t
just words, they are our collective path forward to an improved
experience for both our employees and customers. We have also
reached out to our other labor partners and look forward to
promptly reaching agreements for all CSX union employees patterned
on these same terms.”
The tentative agreements, which are subject to ratification by
the unions’ membership at CSX, come more than four months before
the current collective agreements become amendable under the
federal Railway Labor Act. Terms include average wage increases of
3.5% per year over five years and improvements in paid vacation and
health care. These tentative agreements cover approximately 25% of
CSX’s front-line union workforce.
Additional details will be shared during the unions’
ratification processes.
About CSX
CSX, based in Jacksonville, Florida, is a
premier transportation company. It provides rail, intermodal and
rail-to-truck transload services and solutions to customers across
a broad array of markets, including energy, industrial,
construction, agricultural and consumer products. For nearly 200
years, CSX has played a critical role in the nation’s economic
expansion and industrial development. Its network connects every
major metropolitan area in the eastern United States, where nearly
two-thirds of the nation’s population resides. It also links more
than 240 short-line railroads and more than 70 ocean, river and
lake ports with major population centers and farming towns alike.
More information about CSX Corporation and its subsidiaries is
available at www.csx.com. Like us on Facebook
(http://facebook.com/OfficialCSX) and follow us on X, formerly
known as Twitter (http://twitter.com/CSX).
Contact: Matthew Korn, CFA, Investor
Relations904-366-4515
Bryan Tucker, Corporate Communications 855-955-6397
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