The nation’s largest railroad union joined the list of companies endorsing Union Pacific’s proposed $85 billion acquisition of Norfolk Southern Monday after securing promises to protect jobs, but other unions and chemical makers that rely on the railroads are still expressing concerns about the deal.
The SMART-TD union that represents conductors and other rail workers said Union Pacific put CEO Jim Vena’s promise not to lay off any of its workers as a result of the merger in writing and promised to protect their jobs throughout their careers. But the head of one of the next biggest unions said he doesn’t think this deal does nearly enough to protect rail jobs, so he’s not ready to support the merger that would create the nation’s first transcontinental railroad.
The union’s endorsement comes just days after President Donald Trump told reporters in the Oval Office that he deal sounds good to him, but groups like the American Chemistry Council and the Rail Customer Coalition have said they worry that allowing two of the six largest railroads to merge will only hurt competition and lead to even higher shipping rates.
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