CSX Reaches Tentative Agreements with IBEW, NCFO; Ratifies Deal with SMART-TD
CSX (NASDAQ: CSX) has announced new five-year tentative collective bargaining agreements with the International Brotherhood of Electrical Workers (IBEW) and National Conference of Firemen & Oilers (NCFO). Additionally, CSX has ratified a labor agreement with the SMART-TD yardmasters.
These agreements, pending ratification by union members, were reached before the current agreements became amendable under the federal Railway Labor Act. CSX has now secured proactive agreements with 13 labor unions, covering 17 work groups, representing nearly 60 percent of its unionized workforce.
The agreements offer improved wages, health care, and paid time off benefits. CSX aims to continue partnering with other unions to reach similar agreements, focusing on enhancing workplace conditions and employee satisfaction.
CSX (NASDAQ: CSX) ha annunciato nuovi accordi collettivi di lavoro provvisori della durata di cinque anni con la International Brotherhood of Electrical Workers (IBEW) e la National Conference of Firemen & Oilers (NCFO). Inoltre, CSX ha ratificato un accordo di lavoro con i yardmasters SMART-TD.
Questi accordi, in attesa di ratifica da parte dei membri del sindacato, sono stati raggiunti prima che gli attuali accordi diventassero modificabili ai sensi del Railway Labor Act federale. CSX ha ora assicurato accordi proattivi con 13 sindacati, coprendo 17 gruppi di lavoro, che rappresentano quasi il 60 percento della sua forza lavoro sindacalizzata.
Gli accordi offrono salari migliorati, assistenza sanitaria e benefici per il congedo retribuito. CSX mira a continuare a collaborare con altri sindacati per raggiungere accordi simili, concentrandosi sul miglioramento delle condizioni di lavoro e sulla soddisfazione dei dipendenti.
CSX (NASDAQ: CSX) ha anunciado nuevos acuerdos provisionales de negociación colectiva de cinco años con la International Brotherhood of Electrical Workers (IBEW) y la National Conference of Firemen & Oilers (NCFO). Además, CSX ha ratificado un acuerdo laboral con los yardmasters de SMART-TD.
Estos acuerdos, pendientes de ratificación por los miembros del sindicato, se alcanzaron antes de que los acuerdos actuales se volvieran modificables según la Ley Federal del Trabajo Ferroviario. CSX ahora ha asegurado acuerdos proactivos con 13 sindicatos, que cubren 17 grupos de trabajo, representando casi el 60 por ciento de su fuerza laboral sindicalizada.
Los acuerdos ofrecen mejoras salariales, atención médica y beneficios por tiempo de descanso pagado. CSX tiene como objetivo continuar colaborando con otros sindicatos para alcanzar acuerdos similares, enfocándose en mejorar las condiciones laborales y la satisfacción de los empleados.
CSX (NASDAQ: CSX)는 International Brotherhood of Electrical Workers (IBEW) 및 National Conference of Firemen & Oilers (NCFO)와 함께 5년간의 새로운 잠정적 단체 교섭 합의를 발표했습니다. 또한, CSX는 SMART-TD의 야드 마스터들과 노동 계약을 비준했습니다.
이 합의는 노조 회원의 비준을 기다리고 있으며, 현재의 합의가 연방 철도 노동법에 따라 수정 가능해지기 전에 도달했습니다. CSX는 이제 13개의 노동 조합과 프로액티브한 합의를 보장했으며, 17개 작업 그룹을 포함하고, 이는 거의 60%의 조합원 근로자를 나타냅니다.
이 합의는 임금, 건강 관리, 유급 휴가 혜택을 개선합니다. CSX는 근무 조건 및 직원 만족도를 향상시키는 데 중점을 두며 다른 노조와 협력하여 유사한 합의에 도달하는 것을 목표로 하고 있습니다.
CSX (NASDAQ: CSX) a annoncé de nouveaux accords de négociation collective provisoires d'une durée de cinq ans avec l'International Brotherhood of Electrical Workers (IBEW) et la National Conference of Firemen & Oilers (NCFO). De plus, CSX a ratifié un accord de travail avec les yardmasters de SMART-TD.
Ces accords, en attente de ratification par les membres du syndicat, ont été conclus avant que les accords actuels ne deviennent modifiables en vertu de la loi fédérale sur le travail ferroviaire. CSX a désormais garanti des accords proactifs avec 13 syndicats, couvrant 17 groupes de travail, représentant près de 60 % de sa main-d'œuvre syndiquée.
Les accords offrent des salaires améliorés, des soins de santé et des congés payés. CSX vise à continuer de collaborer avec d'autres syndicats pour parvenir à des accords similaires, en se concentrant sur l'amélioration des conditions de travail et la satisfaction des employés.
CSX (NASDAQ: CSX) hat neue vorläufige Tarifverträge über fünf Jahre mit der International Brotherhood of Electrical Workers (IBEW) und der National Conference of Firemen & Oilers (NCFO) angekündigt. Darüber hinaus hat CSX eine Arbeitsvereinbarung mit den Yardmastern von SMART-TD ratifiziert.
Diese Vereinbarungen, die auf die Ratifizierung durch die Gewerkschaftsmitglieder warten, wurden getroffen, bevor die bestehenden Vereinbarungen gemäß dem Bundesgesetz über Eisenbahnarbeit geändert werden konnten. CSX hat nun proaktive Vereinbarungen mit 13 Gewerkschaften gesichert, die 17 Arbeitsgruppen abdecken und fast 60 Prozent seiner gewerkschaftlich organisierten Belegschaft vertreten.
Die Vereinbarungen bieten verbesserte Löhne, Gesundheitsversorgung und bezahlte Urlaubsansprüche. CSX strebt an, weiterhin mit anderen Gewerkschaften zusammenzuarbeiten, um ähnliche Vereinbarungen zu treffen, die den Fokus auf die Verbesserung der Arbeitsbedingungen und die Zufriedenheit der Mitarbeiter legen.
- Secured new five-year tentative agreements with IBEW and NCFO
- Ratified labor agreement with SMART-TD yardmasters
- Proactive agreements reached with 13 labor unions, covering 60% of unionized workforce
- Agreements include improved wages, health care, and paid time off benefits
- None.
Insights
This news represents a positive development for CSX, showcasing the company's proactive approach to labor relations. Reaching tentative agreements with IBEW and NCFO, along with ratifying a deal with SMART-TD yardmasters, covers a significant portion of CSX's unionized workforce. These five-year agreements provide stability and predictability in labor costs and operations.
The proactive nature of these agreements, reached before the current contracts became amendable, demonstrates CSX's commitment to maintaining positive relationships with its workforce. This approach can help mitigate the risk of labor disruptions and associated operational impacts.
While the financial details aren't disclosed, the mention of "improved wages, health care and paid time off benefits" suggests increased labor costs. However, these investments in the workforce can lead to improved productivity, safety and service quality, potentially offsetting the higher expenses.
Investors should view this as a positive indicator of CSX's management effectiveness and labor stability, which are important factors in the railroad industry's operational efficiency and long-term profitability.
JACKSONVILLE, Fla., Oct. 22, 2024 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) today announced it has secured new five-year tentative collective bargaining agreements with the International Brotherhood of Electrical Workers (IBEW) and National Conference of Firemen & Oilers (NCFO), as well as the ratification of a labor agreement with the SMART-TD yardmasters.
“The new tentative agreements are a significant step forward in our continued partnership with union leaders,” said Joe Hinrichs, President and CEO of CSX. “These agreements strengthen our commitment to creating a workplace where every employee feels valued and empowered, while improving safety, efficiency, and service. Together, we are building a stronger foundation for our future success.”
The tentative agreements, which are pending ratification by the unions’ membership at CSX, were reached before the current collective agreements become amendable under the federal Railway Labor Act.
To date, CSX has reached proactive agreements with 13 labor unions, covering 17 different work groups, accounting for almost 60 percent of its unionized workforce. The terms of the agreements are aligned, providing equivalent packages of improved wages, health care, and paid time off benefits.
CSX remains committed to working with other unions and crafts to reach similar agreements over the coming days and continuing to partner with employees to make meaningful improvements in their work environment.
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. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on X, formerly known as Twitter (http://twitter.com/CSX).
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
FAQ
What new labor agreements has CSX (NASDAQ: CSX) announced on October 22, 2024?
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