CSX Secures New Labor Agreements Enhancing Worker Benefits

CSX Secures Additional Labor Agreements

CSX (NASDAQ: CSX) has announced that it has reached new tentative five-year collective bargaining agreements with seven additional labor unions. These labor unions represent various employee groups within the company, highlighting a significant step toward improving wages and benefits for railroad workers.

Union Groups Involved

The new agreements cover a range of labor organizations, including:

• The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters (BMWED), representing maintenance of way employees.
• The International Association of Machinists & Aerospace Workers (IAM) representing machinists and roadway mechanics.
• The International Association of Sheet Metal, Air, Rail and Transportation Workers – Transportation Division (SMART-TD), which includes yardmasters.
• The Brotherhood of Railway Carmen (BRC), representing carmen at the Fruit Growers Express Company, a subsidiary of CSX.
• The Transportation Communications Union (TCU), covering clerical staff at Fruit Growers Express.
• The American Railway and Airway Supervisors’ Association (ARASA), representing mechanical department supervisors.
• The B&O Joint Council (BOJC), which ranks mechanical department foremen and supervisors.

Commitment to Collaborative Relations

CSX President and CEO Joe Hinrichs expressed satisfaction in reaching these tentative agreements ahead of the upcoming re-negotiation process. These agreements showcase CSX's commitment to collaboration with union partners, reflecting the hard work and dedication of all parties involved. Hinrichs stated, “Together, as ONE CSX, we are building a path forward that benefits our employees, our customers, and the communities we serve.”

Overview of Agreements

The tentative agreements are currently pending ratification by the unions’ membership at CSX. They were reached significantly ahead of the current collective agreements' amendable date under the federal Railway Labor Act. With these new agreements, CSX has finalized a total of 12 distinct tentative agreements, encompassing over 50% of its unionized workforce. These agreements standardize improvements in wages, health care, and paid time off benefits for employees.

Future Collaborations

CSX remains dedicated to negotiating with other unions and crafts to finalize similar agreements in the coming days. The company is committed to fostering meaningful improvements in the work environment for all employees, synonymous with its ongoing mission to enhance worker conditions and benefits.

About CSX Corporation

CSX, headquartered in Jacksonville, Florida, is a top-tier transportation company that provides rail, intermodal, and rail-to-truck transload services across a diverse array of markets, including energy, industrial, construction, agricultural, and consumer products. The company has been integral to the nation’s economic expansion and industrial development for nearly two centuries. CSX’s extensive network connects major metropolitan areas in the eastern United States, which is home to nearly two-thirds of the nation's population. Additionally, it fosters connections with over 240 short-line railroads and numerous ports, offering seamless logistics solutions.

Contact Information

For further inquiries, please contact:

Matthew Korn, CFA, Investor Relations

904-366-4515

Bryan Tucker, Corporate Communications

855-955-6397

Frequently Asked Questions

What unions are included in the new agreements?

The new agreements encompass seven labor unions, including BMWED, IAM, SMART-TD, BRC, TCU, ARASA, and BOJC.

What improvements do the agreements offer?

The agreements propose enhanced wages, improved health care benefits, and better paid time off for the employees covered by the unions.

Who is CSX's President and CEO?

Joe Hinrichs is the President and CEO of CSX, overseeing the company’s operations and labor negotiations.

How many tentative agreements has CSX reached in total?

CSX has reached a total of 12 tentative agreements, which cover more than 50% of its union employees.

What is CSX's mission regarding its workforce?

CSX aims to collaborate with its unions and employees to enhance working conditions and benefits, ensuring a positive work environment for its workforce.

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