Tentative agreement comes in advance of the
next collective bargaining round, delivering significant future
enhancements to pay, health care, and vacation.
ATLANTA, Oct. 21,
2024 /PRNewswire/ -- Norfolk Southern Corporation
(NYSE: NSC) announced today that it has reached a tentative
five-year collective bargaining agreement with the International
Brotherhood of Electrical Workers (IBEW). The most recent agreement
pushes the coverage of the union workforce under early tentative
deals to approximately 67%.
The agreement, which is subject to ratification, arrives in
advance of the next collective bargaining round, providing covered
employees with assurances that they will receive significant
upcoming improvements to their pay, healthcare, and vacation
benefits.
"Norfolk Southern is committed to working with all of our labor
unions to ensure that our craft railroaders receive the best
possible pay and benefits for the contributions they make every day
to power the American economy," said Mark R. George, Norfolk Southern President
and CEO. "We're delighted to reach this new tentative agreement
with IBEW so that we can reward these employees, without delay, for
the critical work they do to keep the steel wheels rolling."
''I would like to thank CEO Mark
George, Norfolk Southern, and IBEW Railroad Director
Al Russo for their efforts to
provide this tentative agreement for our members," said
Tom Owens, General Chairman
IBEW System Council 6. "Our hardworking men and women deserve the
opportunity to participate in this unique moment in the negotiation
process. It is appropriate they receive meaningful recognition for
their tireless efforts without the years of delay we've seen in the
past. IBEW and Norfolk Southern have delivered on that vision."
The tentative agreement provides for a 3.5-percent average wage
increase per year over the next five years. It also offers
railroaders more vacation earlier in their career and makes
meaningful enhancements to an already robust suite of health care
benefits.
Since August, Norfolk Southern has reached tentative agreements
with 10 of its 13 unions, which, in addition to IBEW, include the
American Train Dispatchers Association (ATDA), the Brotherhood of
Maintenance of Way Employes Division (BMWED), the Brotherhood of
Railway Carmen Division/TCU (BRC), the International Association of
Sheet Metal, Air, Rail and Transportation Workers - Mechanical
Department (SMART-MD), International Association of Sheet Metal,
Air, Rail and Transportation Workers - Transportation Division
(SMART-TD), the International Association of Sheet Metal, Air, Rail
and Transportation Workers – Transportation Division Yardmasters
(SMART-TD Yardmasters), the International Brotherhood of
Boilermakers and Blacksmiths (IBBB), the National Conference of
Firemen and Oilers (NCFO), and the Transportation Communications
Union/IAM (TCU).
About Norfolk Southern
Since 1827, Norfolk
Southern Corporation (NYSE: NSC) and its predecessor
companies have safely moved the goods and materials that drive the
U.S. economy. Today, it operates a customer-centric and
operations-driven freight transportation network. Committed to
furthering sustainability, Norfolk Southern helps its customers
avoid approximately 15 million tons of yearly carbon emissions by
shipping via rail. Its dedicated team members deliver more than 7
million carloads annually, from agriculture to consumer goods, and
Norfolk Southern originates more automotive traffic than any other
Class I Railroad. Norfolk Southern also has the most
extensive intermodal network in the eastern U.S. It
serves a majority of the country's population and manufacturing
base, with connections to every major container port on the
Atlantic coast as well as major ports in the Gulf of Mexico and Great Lakes. Learn more by
visiting www.NorfolkSouthern.com.
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SOURCE Norfolk Southern Corporation