CSX Reaches Tentative Agreements On New Five-year Collective Bargaining Agreements; Terms Include Average Wage Increases Of 3.5% Per Year
Portfolio Pulse from Benzinga Newsdesk
CSX has reached tentative five-year collective bargaining agreements with unions, including a 3.5% annual wage increase, improved vacation, and healthcare benefits. These agreements cover 25% of CSX's union workforce and are pending ratification.
August 21, 2024 | 9:19 pm
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CSX has reached tentative agreements with unions for a five-year period, including a 3.5% annual wage increase and improved benefits. This affects 25% of its union workforce and is pending ratification.
The tentative agreements indicate proactive labor management by CSX, potentially avoiding labor disputes. However, the financial impact of wage increases and improved benefits may offset any positive sentiment, leading to a neutral short-term impact on stock price.
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