Norfolk Southern (NYSE: NSC) has reached tentative, five-year labor agreements with five unions, the U.S. railroad operator said on Friday, at a time when thousands of employees in the industry are negotiating for better pay and working conditions.
Of its 13 unions, the company has reached tentative agreements with nine, which cover about 55% of its unionized workforce, over the past two weeks.
The agreements, which still need to be ratified by the unions, provide a 3.5% average annual wage hike over the next five years and offer more time off for workers and better healthcare benefits.
(Source: Reuters)
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
