U.S. railroad investor resolutions urge paid sick leave for workers - Reuters

Dec 5 (Reuters) - Investors person projected shareholder resolutions astatine 2 U.S. railroads calling for paid sick permission for workers, an contented that astir caused a nationalist obstruction strike, and they could spell to an advisory ballot astatine shareholder meetings successful the spring.

On Friday President Joe Biden signed authorities to artifact a obstruction shutdown that could person devastated the American economy. But the woody helium approved did not see paid sick days for workers, a cardinal sticking constituent for unions successful declaration talks with 5 large U.S. railroads. work much

Proposals seen by Reuters filed by activistic investors inquire Norfolk Southern Corp (NSC.N) and Union Pacific Corp (UNP.N) to connection "a tenable amount" of paid sick time, determined by institution directors. If accepted each solution would look arsenic a ballot point astatine the railroads' springtime shareholder meetings.

Kate Monahan, a manager astatine Trillium Asset Management, the socially minded capitalist that filed the solution astatine Union Pacific, said much flexible sick clip would person broader benefits similar reducing workforce turnover.

"There’s a wide concern lawsuit that makes consciousness to america arsenic investors," she said.

A Union Pacific typical did not remark connected the resolution, but referred to a commercialized radical connection that manufacture employees already person important clip and permission for longer-term illnesses.

A Norfolk Southern typical declined to comment.

Resolutions astir idiosyncratic payment person drawn much enactment astatine firm yearly meetings successful caller years amid the COVID-19 pandemic. Voting connected the resolutions would not beryllium binding.

Railroads interest implementing paid sick permission would necessitate much employees astatine a clip erstwhile galore person cut their workforces dramatically. Had sick clip been included successful caller national authorities it would chopped U.S. obstruction net 1.5% to 2%, Susquehanna expert Bascome Majors wrote successful a Nov. 30 capitalist note.

Reporting by Ross Kerber successful Boston, Additional reporting by Lisa Baertlein successful Los Angeles; Editing by Cynthia Osterman

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