CSX reaches tentative 5-year deal with BLET covering 3,400 workers

Reuters
10 May
CSX reaches tentative 5-year deal with BLET covering 3,400 workers

May 9 (Reuters) - Railroad operator CSX CSX.O said on Friday it has signed a tentative agreement for a new five-year contract with the Brotherhood of Locomotive Engineers and Trainmen (BLET).

The agreement, which still needs to be ratified by the members of the union, covers approximately 3,400 locomotive engineers represented by BLET, the railroad said.

CSX added that the agreement mirrors the general wage increases, and health and welfare upgrades from its contracts with other unions.

"The tentative agreement ... offers competitive pay, improved health care for locomotive engineers, and work rule changes that promote predictable assignments and additional quality-of-life enhancements," CEO Joe Hinrichs said.

The Jacksonville, Florida-based company has ratified agreements covering 54% of its unionized workforce to date, it said. Currently 17,600 of CSX's employees are represented by unions, according to the company's latest quarterly filing.

"The only remaining major workgroup at CSX not covered by new agreements or a tentative agreement are trainmen/conductors represented by SMART-TD," CSX said, but added that it is currently engaged in bargaining with the union.

(Reporting by Abhinav Parmar in Bengaluru; Editing by Alan Barona)

((Abhinav.Parmar@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10