CSX Reaches New Labor Agreements
CSX (NASDAQ: CSX) has announced that it has successfully negotiated new tentative five-year collective bargaining agreements with seven additional labor unions. These unions represent various employee groups within the company, marking a significant advancement in enhancing wages and benefits for railroad workers.
Involved Union Groups
The new agreements involve a variety of labor organizations, including:
- The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters (BMWED), which represents 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), which covers 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 Collaboration
CSX President and CEO Joe Hinrichs expressed his satisfaction in reaching these tentative agreements ahead of the upcoming re-negotiation process. These agreements reflect CSX's commitment to working collaboratively with union partners, showcasing the dedication and effort of all involved. Hinrichs stated, “Together, as ONE CSX, we are building a path forward that benefits our employees, our customers, and the communities we serve.”
Details of the Agreements
The tentative agreements are now pending ratification by the unions’ membership at CSX. They were reached well in advance of the amendable date of the current collective agreements under the federal Railway Labor Act. With these new agreements, CSX has now finalized a total of 12 distinct tentative agreements, which cover over 50% of its unionized workforce. These agreements aim to standardize improvements in wages, healthcare, and paid time off benefits for employees.
Looking Ahead
CSX is committed to continuing negotiations with other unions and crafts to finalize similar agreements in the near future. The company is focused on making meaningful improvements in the work environment for all employees, aligning with its ongoing mission to enhance worker conditions and benefits.
About CSX Corporation
CSX, headquartered in Jacksonville, Florida, is a leading transportation company that provides rail, intermodal, and rail-to-truck transload services across a wide range of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly two centuries, the company has played a crucial role in the nation’s economic growth and industrial development. CSX’s extensive network connects major metropolitan areas in the eastern United States, home to nearly two-thirds of the nation's population. Additionally, it connects with over 240 short-line railroads and numerous ports, offering seamless logistics solutions.
Contact Information
For further inquiries, please reach out to:
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.
