CSX signs labor deals to improve wages, health care, and paid time off

From Nasdaq: 2024-09-02 13:43:00

CSX Corporation (CSX) signs new five-year tentative collective bargaining agreements with two labor unions, including the International Brotherhood of Boilermakers and the Transportation Communications Union. These proactive deals aim to improve wages, health care, and paid time off benefits for CSX employees. The agreements are pending ratification by union members.
CSX’s stock has seen a 10.8% decline in the past six months due to supply-chain disruptions. Successful labor deals could boost the stock price in the future. The railroad operator aims to create a more labor-friendly environment to enhance operational efficiency and employee satisfaction.
CSX currently has a Zacks Rank #3 (Hold). Other U.S. railroads, like Canadian National Railway and Norfolk Southern, are also dealing with labor issues. Norfolk Southern recently inked new five-year collective bargaining contracts with labor unions, offering annual wage increases and improved benefits upon ratification. Labor-friendly approaches may lead to better operational performance.
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Read more at Nasdaq: CSX Inks Labor Deals Related to Higher Wage, Paid Sick Leave