The Journal of Commerce reports that 'the move relieves shippers' fear of an immediate labor strike or stoppage as early as next week that would have crippled shipping amid the peak holiday season.'
Two unions representing railroad workers have reached tentative agreement with major U.S. railroads, averting the immediate threat of a national labor action.
Agreements have been struck with 12 of the 13 railroad unions, most recently with the Brotherhood of Locomotive Engineers and Trainmen and the American Train Dispatchers Association, which represent approximately 26,500 workers.
The lone union holdout, the Brotherhood of Maintenance of Way Employees, agreed this week to extend a cooling-off period until Feb. 8.