Rail union approves deal offering hope of avoiding strike

Railroad Contract Talks
Posted at 3:04 PM, Nov 05, 2022

OMAHA, Neb. (AP) — Another one of the 12 railroad unions narrowly approved its deal with the major freight railroads Saturday, offering some hope that the contract dispute might be resolved without a strike even though two other unions rejected their agreements last month.

Now that 52% of International Association of Machinists and Aerospace Workers members who voted approved their deal, seven railroad unions have ratified contracts that include 24% raises and $5,000 in bonuses.

But, all 12 must approve contracts to prevent a strike.

So businesses remain concerned about a possible economically devastating strike, and they have urged President Joe Biden and Congress to be ready to intervene if needed.