CSXT, Locomotive Engineers Reach Tentative Agreement
August 07 2009 - 9:00AM
PR Newswire (US)
JACKSONVILLE, Fla., Aug. 7 /PRNewswire-FirstCall/ -- CSX
Transportation Inc. and the Brotherhood of Locomotive Engineers and
Trainmen have reached a tentative agreement on a five-year
extension to a combined wage and performance bonus package. In
addition to wage increases, CSXT engineers will continue to be
eligible for payments from a Performance Bonus Plan that links that
portion of their compensation to company financial performance.
"This is an important evolution in the agreement that directly
aligns the interests of our more than 5,000 locomotive engineers
with company goals to meet the expectations of our customers and
shareholders," said Lisa Mancini, senior vice president-human
resources. "We applaud the vision of the BLET in reaching this
extension to the agreement that rewards engineers when the company
meets its financial and strategic goals." The agreement extension
is subject to ratification by BLET members, and includes
competitive wage increases and higher bonus payout potential over a
five-year period. The Performance Bonus Plan first went into effect
for BLET members in 2007. CSX Transportation Inc. is a principal
operating company of CSX Corporation. CSX Corporation, based in
Jacksonville, Fla., is one of the leading transportation companies,
providing rail, intermodal and rail-to-truck transload services.
The company's transportation network spans 21,000 miles with
service to 23 eastern states and the District of Columbia, and
connects to more than 70 ocean, river, and lake ports. More
information about CSX Corporation and its subsidiaries is available
at the company's web site, http://www.csx.com/. DATASOURCE: CSX
Transportation CONTACT: Gary Sease of CSX Transportation,
+1-877-835-5279 Web Site: http://www.csx.com/
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