Discuss at least two types of strikes and explain the costs that management and employees may face during a strike. What is the significance of the Railway Labor Act as it relates to strikes?

What will be an ideal response?

Answer: Summary of suggested answer -
Types
• An economic strike takes place when an agreement is not reached during collective bargaining.
• A wildcat strike is a spontaneous work stoppage that happens under a valid contract and is usually not supported by union leadership.
Costs
• For managers, finding replacement workers may be difficult or prevented by a contract. A strike can even force a company to shut down operations and lose customers.
• Employees face the risk of losing their jobs to permanent replacement workers and receive no compensation from the company until they resume their work.

The Railway Labor Act regulates labor relations in the transportation industry. It has provisions for congressional and presidential intervention in a labor dispute that could be disruptive to interstate commerce, such as striking air traffic controllers or bus drivers.