News

CSX Corp. Reaches Agreement for Paid Sick Leave

4.7

Charles M. Hall

October 19, 2023

Commitment to Employee Well-Being

CSX CEO Joe Hinrichs expressed appreciation for the hard work and dedication of the Brotherhood of Railroad Signalmen and all employees who contribute to the smooth operations of the company. He stated, "This agreement reflects our ongoing commitment to improving the employee experience and ensuring that our team members have the support they need."

Gus Dermott, general chair of the Seaboard Coast Line union branch, commented on the efforts made during the collective bargaining process. He mentioned that their union worked tirelessly to secure paid sick leave, tailoring the benefits to the specific needs and working conditions of the signalmen.

Positive Impact on Railroad Industry

The issue of paid sick leave agreements with rail unions has gained significant attention as it caused the industry to face the possibility of a strike last year. CSX has been proactive in addressing this concern and has already reached agreements with several other unions including the Brotherhood of Maintenance of Way Employes Division, the Brotherhood of Railway Carmen, the International Association of Machinists and Aerospace Workers, the National Conference of Firemen & Oilers, and the International Brotherhood of Electrical Workers and the Sheet Metal, Air, Rail and Transportation Workers-Transportation Division unions.

Steady Growth and Performance

Despite a challenging year, CSX shares have shown resilience, with only a minor 0.3% decline in 2023 compared to the S&P 500's gain of 12.3%. The company aims to continue enhancing its rail network performance in order to sustain its positive trajectory.

CSX remains committed to supporting its employees and fostering a conducive work environment that prioritizes their well-being and needs.