Norfolk Southern reaches tentative collective bargaining agreements with all general committees representing SMART-TD

Rhea-AI Summary

Norfolk Southern (NYSE: NSC) has reached tentative agreements with all general committees representing SMART-TD, its largest labor union. This latest agreement covers all Norfolk Southern conductors, bringing the total union workforce covered by early tentative agreements to nearly 65%. The agreements, subject to ratification, come four months before the next collective bargaining round and offer:

• A 3.5% average wage increase per year over the next five years
• More vacation earlier in careers
• Enhancements to health care benefits

Norfolk Southern has reached tentative agreements with nine of its 13 unions in the past two weeks, demonstrating a commitment to supporting and rewarding its workforce.

Positive

• Reached tentative agreements with all general committees of SMART-TD, the company's largest labor union
• Nearly 65% of union workforce now covered by early tentative agreements
• 3.5% average wage increase per year over the next five years
• Enhanced vacation and health care benefits for covered railroaders
• Agreements reached with 9 out of 13 unions in the past two weeks

Negative

• None.

Early agreements now cover nearly 65% of company's union workforce

ATLANTA, Sept. 4, 2024  /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) has reached a tentative agreement with its final general committee of the International Association of Sheet Metal, Air, Rail and Transportation Workers - Transportation Division (SMART-TD). SMART-TD is the company's largest labor union, representing train conductors across the company's 22-state network. The latest agreement ensures coverage for all Norfolk Southern conductors and brings the total union workforce covered by early tentative agreements to nearly 65%.

The agreement, which is subject to ratification, comes four months before the opening of the next collective bargaining round and provides a 3.5-percent average wage increase per year over the next five years. Under the tentative agreements, covered railroaders will also receive more vacation earlier in their career and have enhancements made to an already robust suite of health care benefits.

"At Norfolk Southern, we're working closely with our labor leaders to support and reward our workforce, giving our valued employees the pay, health care, and vacation improvements they deserve without the multi-year wait that often accompanied previous bargaining rounds," said Alan H. Shaw, Norfolk Southern President and CEO. "We know that railroading is more than just a job; it's an opportunity for a fulfilling career capable of providing a good life for employees and their families. We appreciate the partnership with SMART-TD and look forward to reaching additional agreements with all of our unions."

"I am proud that now all our SMART-TD General Chairman have been able to negotiate the significant pay, health care, and vacation benefits of this agreement for all conductors on Norfolk Southern," said Jeremy Ferguson, National President SMART-TD. "We thank Norfolk Southern for stepping up at the bargaining table and partnering on a deal that will truly improve the lives of our dedicated members."

Over the past two weeks, Norfolk Southern has reached tentative agreements with nine of its 13 unions, which, in addition to SMART-TD, 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), 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

FAQ

What percentage of Norfolk Southern's union workforce is covered by the new tentative agreements?

Nearly 65% of Norfolk Southern's union workforce is now covered by the new early tentative agreements.

What wage increase does the tentative agreement with SMART-TD offer for Norfolk Southern (NSC) employees?

The tentative agreement offers a 3.5% average wage increase per year over the next five years for covered Norfolk Southern employees.

How many months in advance of the next collective bargaining round were these agreements reached for Norfolk Southern (NSC)?

The agreements were reached four months before the opening of the next collective bargaining round for Norfolk Southern.

How many unions has Norfolk Southern (NSC) reached tentative agreements with in the past two weeks?

Norfolk Southern has reached tentative agreements with nine of its 13 unions in the past two weeks.