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Time running out to avoid rail strike threatening 'significant economic damage'
Strikes costing billions of dollars that would plunge supply chains further into chaos may be just days away if rail carriers and unions can’t reach an agreement.
The major rail carriers and associated unions have until next Friday, Sept. 16, to reach an agreement on contract negotiations before a cooling-off period lapses and workers are permitted to strike. Should that happen, thousands of trains and the goods they are carrying could be frozen in place, resulting in severe economic consequences.
The nationwide rail service disruption brought on by a strike would “dramatically impact economic output” and could cost upward of $2 billion per day, according to a report by the Association of American Railroads.
In July, given the severity of the situation, the White House approved the formation of an emergency board to help alleviate a dispute between railroads and the unions representing rail workers after contract negotiations came up short. The negotiations had been ongoing for more than two years, with thousands of rail workers voting in internal union elections to go on strike.
Strikes costing billions of dollars that would plunge supply chains further into chaos may be just days away if rail carriers and unions can’t reach an agreement.
The major rail carriers and associated unions have until next Friday, Sept. 16, to reach an agreement on contract negotiations before a cooling-off period lapses and workers are permitted to strike. Should that happen, thousands of trains and the goods they are carrying could be frozen in place, resulting in severe economic consequences.
The nationwide rail service disruption brought on by a strike would “dramatically impact economic output” and could cost upward of $2 billion per day, according to a report by the Association of American Railroads.
In July, given the severity of the situation, the White House approved the formation of an emergency board to help alleviate a dispute between railroads and the unions representing rail workers after contract negotiations came up short. The negotiations had been ongoing for more than two years, with thousands of rail workers voting in internal union elections to go on strike.
