Norfolk Southern reaches tentative collective bargaining agreement with International Brotherhood of Electrical Workers

Tentative agreement comes in advance of the next collective bargaining round, delivering significant future enhancements to pay, health care, and vacation.

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).