Union Pacific Railroad Reaches Agreements with 11 Unions, Approving Pay Raises and Labor Contracts for 46% of Employees

Union Pacific Railroad has reached ratified agreements with 11 unions covering 12 crafts, representing 46% of its craft employees. The agreements include wage increases, additional vacation time, health and welfare benefits, and work rule changes. The 12 crafts include National Conference of Firemen & Oilers, International Brotherhood of Boilermakers, and International Association of Machinists and Aerospace Workers, among others. The agreements cover a five-year term and will take effect on July 1, 2025.

Union Pacific Corp. (NYSE: UNP) has announced the ratification of agreements with 11 unions covering 12 crafts, representing 46% of its craft employees. The agreements, which cover a five-year term, include wage increases, additional vacation time, health and welfare benefits, and work rule changes. The agreements will take effect on July 1, 2025.

Among the unions that have ratified these agreements are the National Conference of Firemen & Oilers, International Brotherhood of Boilermakers, and International Association of Machinists and Aerospace Workers. Additionally, interim agreements have been reached with two of the railroad's largest unions, the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART-TD) and the Brotherhood of Locomotive Engineers and Trainmen (BLET), providing a 3% pay increase that took effect on September 1.

Union Pacific CEO Jim Vena expressed gratitude to the union partners for their work in reaching these agreements. "It's important we reward our employees without delay and acknowledge their contribution to providing the safe, reliable service we sold our customers," he said.

These agreements come at a time when Union Pacific is focusing on maintaining its position as a leading freight railroad in the United States. The company operates in 23 western states and connects customers to the global economy through freight rail transportation.

References:
[1] https://www.streetinsider.com/Corporate+News/Union+Pacific+reaches+labor+deals+with+11+unions+covering+12+crafts/25291144.html
[2] https://www.stocktitan.net/news/UNP/union-pacific-railroad-announces-pay-raises-and-labor-agreements-81cuouh981jl.html