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This past September, Class I railroads and their related labor unions reached a deal that temporarily averted a strike, pending votes by each union’s membership. At this time all but two of the unions has ratified the agreement, raising the possibility of a strike that would cause significant delays to an already stretched supply chain, impact companies who ship/receive product using rails, and have huge impacts on our economy.
The deadline for all unions to reach an agreement has just been extended from Nov. 19 to Dec. 4, ending the threat of an immediate strike. However, soon—and especially the week prior to December 4—railroads may make schedule and service changes to prepare for a possible strike or slowdown.
VMA members should evaluate their supply chain now to understand how this could affect them.
VMA is working with other manufacturing trade associations to communicate to Congress and the White House the criticality of rail transportation to the supply chain, the industrial valve industry and the wider U.S. economy - and to ask them to intervene if necessary. The railroads have estimated that a strike could cost the US economy $2 billion a day.
For questions about the labor negotiations, email Marc Pasternak.
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