CSX Inks Tentative Labor Agreement With Signalmen & Boilermakers

CSX Corporation Developments - CSX Corporation has announced new five-year tentative collective bargaining agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers, which are subject to ratification by union members [2][3][4] - The agreement with the Brotherhood of Railroad Signalmen covers 1,215 signalmen, while the deal with the International Brotherhood of Boilermakers involves 59 members [2][3] - CSX has ratified agreements with 11 labor unions, covering 14 different work groups, which represent 47% of its unionized workforce [5] Employee Relations and Benefits - The new agreements aim to provide improved wages, health care, and paid time off benefits, reflecting CSX's employee-friendly approach [5] - Joe Hinrichs, CEO of CSX, emphasized the importance of safety, respect, and operational excellence in the agreements, aiming for greater efficiency and service for customers [3][4] Industry Context - Other companies in the rail industry, such as Union Pacific Corporation, Canadian Pacific Railway Limited, and Canadian National Railway Company, have also entered into collective bargaining agreements recently [7] - Union Pacific has reached a tentative agreement with the National Conference of Firemen & Oilers, which includes wage increases and additional vacation time [8] - Canadian Pacific has ratified a new four-year collective agreement with Unifor, covering approximately 1,200 mechanical employees, which includes improved wages and benefits [10] - Canadian National's new four-year agreement with the International Brotherhood of Electric Workers includes annual wage increases of 3% [12]