CSX Reaches Tentative Agreements with IBEW, NCFO; Ratifies Deal with SMART-TD

Globe Newswire 22-Oct-2024 1:41 PM

JACKSONVILLE, Fla., Oct. 22, 2024 (GLOBE NEWSWIRE) -- CSX (NASDAQ:CSX) today announced it has secured new five-year tentative collective bargaining agreements with the International Brotherhood of Electrical Workers (IBEW) and National Conference of Firemen & Oilers (NCFO), as well as the ratification of a labor agreement with the SMART-TD yardmasters.

"The new tentative agreements are a significant step forward in our continued partnership with union leaders," said Joe Hinrichs, President and CEO of CSX. "These agreements strengthen our commitment to creating a workplace where every employee feels valued and empowered, while improving safety, efficiency, and service. Together, we are building a stronger foundation for our future success."

The tentative agreements, which are pending ratification by the unions' membership at CSX, were reached before the current collective agreements become amendable under the federal Railway Labor Act.

To date, CSX has reached proactive agreements with 13 labor unions, covering 17 different work groups, accounting for almost 60 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 over the coming days 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 Relations
904-366-4515

Bryan Tucker, Corporate Communications
855-955-6397