Union Pacific Corporation (UNP) has entered into a tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET). The deal is aimed at improving the quality of life for Union Pacific’s locomotive engineers and their families by offering them better working schedules.
The company employs nearly 5,600 locomotive engineers represented by BLET. The tentative deal offers locomotive engineers an 11 days on, 4 days off schedule.
This deal should help Union Pacific progress productively with its employees with the new work/rest schedules. It should also help UNP to retain and recruit more employees.
Such deals reflect the company’s employee-friendly attitude, through which it tries to maintain cordial relations with its employees and the unions representing them, thereby providing a healthy work atmosphere at UNP.
UNP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lance Fritz, chairman, president and chief executive officer at UNP, stated, “Union Pacific values its craft professionals and their candid feedback, which have led to these historic changes, improving the quality of life for the locomotive engineers who move the goods Americans rely on every day.” He further added, “Last fall, we promised to address their concerns and find solutions, and we want to thank union leadership for their collaboration on this industry-leading agreement.”
Notably, companies in the Zacks Transportation – Rail industry are entering into collective deals with the unions. Norfolk Southern Corporation NSC has entered into an agreement with BLET, aimed at offering up to seven paid sick days per year to BLET members. This deal will offer five new days of paid sick leave per year to Norfolk Southern engineers. Further, it will also provide them the flexibility to use up to two additional days of existing paid time off as sick leave.
The deal covers more than 3,300 Norfolk Southern engineers, representing almost 25% of the NS craft workforce. With this agreement, almost all the company's craft employees — approximately 98% — have entered into paid sick leave deals.
CSX Corporation CSX announced that it has entered into a tentative agreement with the Sheet Metal, Air, Rail and Transportation Workers-Transportation Division CSRA (SMART-TD CSRA), aimed at offering paid sick leave benefits. This deal (which is pending ratification by union members) is the tenth one between CSX and its union-represented employees since February. Most of CSX’s unionized workers now have paid sick leave benefits.
SMART-TD CSRA represents trainmen, conductors and yardmen on territories of CSX’s Atlanta and West Point railroad, Winston-Salem Southbound railway, Louisville and Nashville railroad, Nashville, Chattanooga and St. Louis Railway and Seaboard Coast Line railroad.
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