Want To Keep Up On Rail Strike Negotiations? Here’s How
The industrial metals sector relies on a strong transportation and shipping sector to move its products across the North American continent. MSCI member companies have been closely watching contract negotiations for U.S. rail workers.
As readers will recall, last month those discussions between the U.S. Class I railroads, represented by the National Railway Labor Conference (NRLC) and the labor unions representing the rail workforce, came perilously close to resulting in a national freight rail strike.
While a last-minute deal was struck between labor leadership and the NRLC, rank-and-file members of each union must now ratify that agreement before the process is complete. Industrial metals companies can keep an eye those votes at the NRLC’s Bargaining Status FAQ website, which will regularly update with news of ratification votes and with additional details about the negotiated contract terms.
The good news is that the negotiating parties have agreed to an additional period of time for further discussions should any of the ratification votes fail, meaning there would not be an immediate service strike and shutdown if workers were to reject the proposed contract.