(Reuters) -Railroad operator CSX (NASDAQ:CSX) said on Friday it has signed a tentative agreement for a new five-year contract with the Brotherhood of Locomotive Engineers and Trainmen (BLET).
The agreement, which still needs to be ratified by the members of the union, covers approximately 3,400 locomotive engineers represented by BLET, the railroad said.
CSX added that the agreement mirrors the general wage increases, and health and welfare upgrades from its contracts with other unions.
"The tentative agreement ... offers competitive pay, improved health care for locomotive engineers, and work rule changes that promote predictable assignments and additional quality-of-life enhancements," CEO Joe Hinrichs said.
The Jacksonville, Florida-based company has ratified agreements covering 54% of its unionized workforce to date, it said. Currently 17,600 of CSX’s employees are represented by unions, according to the company’s latest quarterly filing.
"The only remaining major workgroup at CSX not covered by new agreements or a tentative agreement are trainmen/conductors represented by SMART-TD," CSX said, but added that it is currently engaged in bargaining with the union.