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CSX Announces Ratification of Labor Deal with BMWED

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JACKSONVILLE, Fla. , Jan. 10, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced...

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Corporate Developments

Labor agreements directly impact operational efficiency and employee morale, crucial for CSX's success. Strong labor relations also enhance investor confidence.

FAQ

Why Bullish?

Positive labor relations often lead to operational stability, which can enhance profitability. Prior agreements have generally resulted in positive market reactions.

How important is it?

Labor agreements directly impact operational efficiency and employee morale, crucial for CSX's success. Strong labor relations also enhance investor confidence.

Why Long Term?

Improved labor relations create a strong foundation for sustainable growth. Historical examples show that stable labor environments lead to long-term performance.

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JACKSONVILLE, Fla. , Jan. 10, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced that employees represented by The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters (BMWED) have voted to ratify the five-year collective bargaining agreement. “The ratification by the BMWED marks an important advancement in our ongoing collaboration with union leadership,” said Joe Hinrichs, President and CEO of CSX. “CSX remains dedicated to cultivating a workplace environment where every employee feels valued, respected, included, and appreciated. Our collective focus continues to be on improving safety, efficiency, and service together as ONE CSX to build a stronger foundation for our future success.” To date, CSX has ratified agreements with 10 labor unions, covering 13 different work groups, accounting for 42 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 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 Relations904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397 

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