CSX Reaches Agreement with BMWED and BRC on Paid Sick Leave for Railroad Workers

Rhea-AI Summary

CSX announced agreements with two unions providing paid sick leave for around 5,000 workers, including engineering and mechanical staff. The Brotherhood of Maintenance of Way and the Brotherhood of Railway Carmen are the involved unions. CSX CEO Joe Hinrichs emphasized the company's commitment to enhancing employee quality of life through collaboration with unions. The agreements reflect CSX's ongoing efforts to foster strong relationships with its unions as the company employs nearly 4,000 BMWED and over 1,000 BRC workers. CSX aims to pursue similar arrangements with its remaining unions.

Positive

• Agreements reached with two unions providing paid sick leave for 5,000 workers.
• Demonstrates commitment to employee welfare and collaboration with unions.
• Potential for improved employee relations and job satisfaction.

Negative

• None.

JACKSONVILLE, Fla., Feb. 07, 2023 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) today announced that it has reached agreements with two unions that provide paid sick leave for approximately 5,000 railroad workers.

The agreements were reached with the Brotherhood of Maintenance of Way (BMWED), which represent engineering employees, and the Brotherhood of Railway Carmen (BRC), representing mechanical workers.

Joe Hinrichs, president and chief executive officer of CSX stated, “CSX is committed to listening to our railroaders and working with their representatives to find solutions that improve their quality of life and experience as employees. These agreements demonstrate that commitment and are a direct result of the collaborative relationship we are working to cultivate with all of the unions that represent CSX employees. We greatly appreciate the leadership of the BMWED and BRC in working towards these agreements.”

Nearly 4,000 BMWED and over 1,000 BRC workers are employed with CSX. The company has great respect for the work performed by its front-line employees to provide safe, reliable rail service for the nation, and will continue to pursue similar agreements with its remaining unions.

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.

Contact:

Matthew Korn, CFA, Investor Relations

904-366-4515

Bryan Tucker, Corporate Communications

855-955-6397

FAQ

What were the agreements announced by CSX on February 7, 2023?

On February 7, 2023, CSX announced agreements providing paid sick leave for approximately 5,000 workers, including employees from two unions.

Which unions are involved in the CSX paid sick leave agreements?

The agreements involve the Brotherhood of Maintenance of Way (BMWED) and the Brotherhood of Railway Carmen (BRC).

How many workers at CSX will benefit from the new sick leave agreements?

Approximately 5,000 workers at CSX will benefit from the new sick leave agreements.

What is CSX's commitment regarding employee relations?

CSX is committed to listening to its railroaders and fostering a collaborative relationship with their representatives to improve employee quality of life.

What is the significance of the CSX union agreements for investors?

The agreements may improve employee satisfaction and operational efficiency, potentially positively impacting CSX's performance and stability.