What happened to rail unions in 2022?

Rail companies and unions had tentatively agreed to a deal in September 2022, but it was rejected by a majority unions' rank-and-file members. Congress and President Joe Biden intervened to pass the tentative agreement into law on December 2, averting a strike.

Will railroad unions strike a line in the sand?

Two of the largest railroad unions in negotiations with railroad carriers have drawn a line in the sand: They are demanding more quality-of-life provisions be put into the contract, covering attendance policies, vacation and sick days, or they will strike.

Will rail unions ratify a ratification agreement?

Eight out of 12 labor unions have reached tentative agreements with the railroad carriers, up from five last week. But BLET and SMART TD, representing half of all rail workers, tell CNBC there will be no ratification unless quality-of-life issues including vacation, sick days and attendance policies are addressed.

Are railroads reducing their workforce?

While rails say they have been hiring aggressively amid the supply chain struggles, the U.S. Surface Transportation Board has reported the largest freight railroads in the U.S. have reduced their workforce by 29% in the last six years . Around 40% of the nation’s long-distance trade is moved by rail, more than any other form of transportation.