CSX Inks Tentative Labor Agreement With Signalmen & Boilermakers

CSX Corporation CSX is actively involved in strengthening its relations with its employees. To this end, the railroad company has recently announced new five-year tentative deals with Signalmen & Boilermakers.Let’s delve deeper.Tentative Deals of CSXCSX has inked a new five-year tentative collective bargaining agreement with the Brotherhood of Railroad Signalmen (BRS). This tentative deal is subject to ratification by the union’s membership at CSX, which represents 1,215 signalmen.Joe Hinrichs, president and chief executive officer at CSX, stated, “The agreement with the BRS continues to demonstrate our strong partnership with union leadership. It reflects our shared commitment to safety, respect, and operational excellence as we move forward together as ONE CSX, ensuring greater efficiency and service for our customers.”Apart from the aforementioned deal, CSX has also entered into a new five-year tentative collective bargaining agreement with the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers & Helpers (IBB). This tentative deal is subject to ratification by the union’s membership at CSX, which represents 59 members.Joe Hinrichs, president and chief executive officer at CSX, stated, “The agreement with IBB reinforces CSX's ongoing commitment to valuing and empowering employees. It reaffirms our team’s shared promise to prioritize safety, respect, and excellence as ONE CSX as we work collaboratively to better serve our customers.”Earlier this month, on March 3, 2025, CSX announced that employees represented by The International Association of Machinists & Aerospace Workers have voted to ratify the five-year collective bargaining agreement.So far, CSX has ratified agreements with 11 labor unions, which cover 14 different work groups and represent 47% of its unionized workforce. The deal aims to offer equivalent packages of improved wages, health care and paid time off benefits.Such deals reflect the employee-friendly attitude of CSX, through which it strives to maintain cordial relations with its employees and the unions representing them, thereby providing a healthy work environment at CSX.CSX currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Union Deals of Other Railroad CompaniesApart from CSX, other companies from the Zacks Transportation – Rail industry that have recently entered into collective deals with the unions includeUnion Pacific Corporation (UNP), Canadian Pacific Railway Limited (CP) and Canadian National Railway Company (CNI).UNPOn March 19, 2025, UNP entered into a tentativeagreement with the National Conference of Firemen & Oilers (“NCFO”). The deal aims to enhance the quality of life for Union Pacific’s employees and their families by providing them with more favorableworking schedules. The deal covers a five-year term and includes wage increases, additional vacation time, health and welfare benefits and minor work rule changes.The tentative agreement has been sent to NCFO members for ratification.The latest deal has been reached before the existing one, which ends on July 1, 2025.Canadian PacificOn Feb. 24, 2025, Canadian Pacificannounced that it had ratified a new four-year collective agreement with Unifor, representing approximately 1,200 mechanical employees in Canada. This agreement, which includes improved wages and benefits, provides long-term labor stability and strengthens collaboration between CP and Unifor. It marks the second collective agreement ratified by CP employees in Canada this year, following a similar agreement with the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED) in February 2025. TCRC-MWED covers almost 2,600 engineering services employees in Canada.CP has a track record of successfully dealing with multiple unions representing craft employees. In the last few months, CP has inked 16 agreements in 2023 in Canadaand the United States.Canadian NationalOn Feb. 17, 2025, CNI announced that its new four-year tentative collective agreement with the International Brotherhood of Electric Workers had beenratified on Feb. 14, 2025. The union represents almost750 signals and communications employees at CNIin Canada. This new four-year agreement includes 3% wage increases annually. It will expire on Dec. 31, 2028.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CSX Corporation (CSX): Free Stock Analysis Report Union Pacific Corporation (UNP): Free Stock Analysis Report Canadian National Railway Company (CNI): Free Stock Analysis Report Canadian Pacific Kansas City Limited (CP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks