CSX Reaches Agreement with IAM and NCFO on Paid Sick Leave for Railroad Workers

Rhea-AI Summary

CSX has reached agreements with the International Association of Machinists and Aerospace Workers and the National Conference of Firemen and Oilers to provide paid sick leave for its employees. This follows similar agreements with two other unions earlier. CSX's CEO, Joe Hinrichs, emphasized the company’s commitment to employee well-being and collaboration with union partners to enhance the work environment. With a strong focus on the workforce, these agreements reflect CSX's dedication to improving employment experiences for its railroad employees.

Positive

• Agreements with IAM and NCFO for paid sick leave enhance employee satisfaction and retention.
• Commitment to employee well-being indicates strong labor relations and potential for improved productivity.

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• None.

JACKSONVILLE, Fla., Feb. 10, 2023 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) today announced that it has reached an agreement with two additional railroad unions to provide paid sick leave to its employees.

The agreements were reached with the International Association of Machinists and Aerospace Workers (IAM), which represents railroad machinists, and the National Conference of Firemen and Oilers (NCFO), which represents the company’s utility workers.

The new contracts are demonstrative of CSX’s commitment to continue working with its employees and their representatives to improve the work experience of its employees. CSX recently announced contractual agreements with two other unions – the Brotherhood of Maintenance of Way and Brotherhood of Railway Carmen – with provisions of paid sick leave.

Joe Hinrichs, president and chief executive officer of CSX said, “CSX is very much committed to the wellbeing of all of our employees and their families. We have a great respect for the work they do in service to our customers and the nation, and we will continue to partner with them and their representatives to ensure they have the best possible employment experience with our railroad. We appreciate the collaboration with IAM and NCFO, and are proud of the momentum we are building with our union partners to find solutions by working together.”

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 recent agreements has CSX made regarding employee benefits?

CSX has reached agreements with two unions to provide paid sick leave for employees.

Which unions are involved in the recent agreements with CSX?

The agreements were made with the International Association of Machinists and Aerospace Workers and the National Conference of Firemen and Oilers.

What is the significance of CSX's recent agreements for employees?

The agreements provide paid sick leave, reflecting CSX's commitment to employee welfare and satisfaction.

How many unions has CSX reached agreements with for paid sick leave?

CSX has reached agreements with four unions to provide paid sick leave.

Who is the CEO of CSX and what was his comment on the new agreements?

Joe Hinrichs, CEO of CSX, stated the company is committed to the well-being of employees and appreciates collaboration with union partners.