Norfolk Southern Labor Agreements

(Reuters) – Norfolk Southern (NYSE:NSC) has reached tentative, five-year labor agreements with five unions, announced on Friday. This comes at a time when thousands of employees in the industry are negotiating for better pay and working conditions.

Out of its 13 unions, the company has reached tentative agreements with nine, covering about 55% of its unionized workforce, over the past two weeks.

These agreements, which still need ratification by the unions, provide a 3.5% average annual wage hike over the next five years, along with additional time off and improved healthcare benefits.