Exclusive-Biden’s emergency board recommends up to 7% rail worker pay raises
2022.08.17 01:26
FILE PHOTO: The White House is seen at sunset in Washington, U.S. March 6, 2021. REUTERS/Erin Scott/
WASHINGTON (Reuters) – U.S. President Joe Biden’s emergency board tasked with helping major freight railroads and unions end a contract negotiation stalemate on Tuesday proposed annual wage increases of between 4% and 7% through 2024, according to a report seen by Reuters.
The board also recommended in its 119-page report a 3% increase for 2020 and 3.5% for 2021, when the rail workers did not have a contract, along with five $1,000 annual bonuses and an additional paid day off.
Talks between major freight railroads, including Union Pacific (NYSE:UNP), Berkshire Hathaway-owned BNSF, and CSX (NASDAQ:CSX), and unions representing 115,000 workers have dragged on for more than two years.
