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2/1/2010
Rail News: Rail Industry Trends
CSXT, UTU forge agreement on tentative five-year pact
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On Friday, CSX Transportation and the United Transportation Union (UTU) announced they reached a tentative five-year agreement. The pact covers conductors and yard employees on five CSXT predecessor railroads.
Subject to UTU member ratification, the contract would provide a combined wage and performance bonus package. Employees would be eligible for payments from a performance bonus plan that links that portion of their compensation to the railroad’s financial performance. Workers also would be eligible for a stock-based individual performance award program.
The contract would consolidate five former agreements into a single Southern Region UTU agreement that “directly aligns the interests” of more than 4,000 UTU-represented employees with company goals, said Lisa Mancini, CSXT’s senior vice president of human resources, in a prepared statement.
Subject to UTU member ratification, the contract would provide a combined wage and performance bonus package. Employees would be eligible for payments from a performance bonus plan that links that portion of their compensation to the railroad’s financial performance. Workers also would be eligible for a stock-based individual performance award program.
The contract would consolidate five former agreements into a single Southern Region UTU agreement that “directly aligns the interests” of more than 4,000 UTU-represented employees with company goals, said Lisa Mancini, CSXT’s senior vice president of human resources, in a prepared statement.
