Norfolk Southern Corp

NYSE:NSCUnited States

Nov 1, 2024

Show headlines and story abstract

• DJ Freight Railroads Kick Off National Labor Negotiations For New Contract -- Market Talk, from 12:30PM ET on Friday Nov 01, 2024 by Dow Jones

  12:30PM ET on Friday Nov 01, 2024 by Dow Jones
  Companies Mentioned: NSC, CSX
  
  1230 ET - Freight railroads begin national labor negotiations for a five-year contract starting 2025. Ahead of this bargaining round, CSX, BNSF and Norfolk Southern in recent months already reached five-year local collective bargaining agreements with several unions. Railroad executives and unions said they did not want a replay of the last bargaining round that resulted in workers having to wait several years for a pay raise. The past protracted talks also led to a threat of a rail worker strike and an intervention from President Biden. These labor contracts do not expire when the term runs out but continue until amended. The recent local agreements include terms such as an 18.8% pay increase over five years and for employees to get more paid vacation time earlier in their careers. The last contract gave workers a 24% wage increase. (esther.fung@wsj.com; @estherfung)