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,
SOURCE CSX Transportation
CONTACT: Gary Sease of CSX Transportation
Web Site: http://www.csx.com