White House announced that US freight railroads and union leaders have reached a tentative agreement on a new labor contract that is expected to avert a nationwide strike. US President Mr Joe Biden said “The hard work done to reach this tentative agreement means that our economy can avert the significant damage any shutdown would have brought.”After three years of negotiations, the parties have come to terms on a tentative deal covering pay, working conditions and health care costs. The new contracts include a 24% wage hike over five years, retroactive to 2020, as well as five annual USD 1,000 lump sum payments, and greater flexibility for time off.
White House announced that US freight railroads and union leaders have reached a tentative agreement on a new labor contract that is expected to avert a nationwide strike. US President Mr Joe Biden said “The hard work done to reach this tentative agreement means that our economy can avert the significant damage any shutdown would have brought.”After three years of negotiations, the parties have come to terms on a tentative deal covering pay, working conditions and health care costs. The new contracts include a 24% wage hike over five years, retroactive to 2020, as well as five annual USD 1,000 lump sum payments, and greater flexibility for time off.
