(Source: CNN, January 24, 2023)
For the year, the company’s employee pay and benefits rose by about $500 million, or 12%, to $4.6 billion, far less than the $6.3 billion that Union Pacific spent repurchasing shares of stock. “Instead of buying back their own stock, UP should be investing in their employees by offering paid sick leave, reasonable schedules and a better quality of life for railroaders,” said Ed Hall, new president of the Brotherhood of Locomotive Engineers and Trainmen. “This is the only way the railroad will be able to solve their recruitment and retention problems and keep the trains running.” Hall was working as an active engineer at the company as recently as December before taking over the union’s top job.
Full story: www.cnn.com