CSX Announces Tentative Labor Agreement with Boilermakers

Rhea-AI Summary

CSX (NASDAQ: CSX) has reached a new five-year tentative collective bargaining agreement with the International Brotherhood of Boilermakers (IBB). The agreement, pending ratification by 59 IBB members at CSX, includes improvements in wages, healthcare, and paid time off benefits.

This marks CSX's 11th successful labor union agreement, covering 14 different work groups and representing 47% of its unionized workforce. CEO Joe Hinrichs emphasized the company's commitment to employee empowerment, safety, respect, and excellence as part of their ONE CSX initiative to enhance customer service.

Positive

• Secured new 5-year labor agreement with IBB union
• Successfully negotiated agreements with 11 labor unions (47% of unionized workforce)
• Standardized benefits package across union agreements

Negative

• Agreement still requires union membership ratification

JACKSONVILLE, Fla., March 25, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced it has secured a new five-year tentative collective bargaining agreement with the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers & Helpers (IBB).

“The agreement with IBB reinforces CSX's ongoing commitment to valuing and empowering employees,” said Joe Hinrichs, President and CEO of CSX. “It reaffirms our team’s shared promise to prioritize safety, respect, and excellence as ONE CSX as we work collaboratively to better serve our customers.”

The tentative agreement is subject to ratification by the union’s membership at CSX, accounting for 59 members.

To date, CSX has ratified agreements with 11 labor unions, covering 14 different work groups, accounting for 47 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 Relations
904-366-4515

Bryan Tucker, Corporate Communications 
855-955-6397

FAQ

What are the key terms of CSX's new labor agreement with the Boilermakers union in 2025?

The 5-year agreement includes improved wages, healthcare benefits, and paid time off provisions, aligned with CSX's other union agreements.

How many CSX employees are covered under the new Boilermakers (IBB) agreement?

The agreement covers 59 CSX employees who are members of the International Brotherhood of Boilermakers (IBB).

What percentage of CSX's unionized workforce is now covered by ratified agreements?

CSX has ratified agreements with 11 labor unions covering 47% of its unionized workforce.

How many labor unions has CSX reached agreements with as of March 2025?

CSX has ratified agreements with 11 labor unions, covering 14 different work groups.