By (Reuters) – Norfolk Southern (NYSE:NSC) has reached tentative, five-year labor agreements with five unions, the U.S. railroad operator said on Friday, at a time when thousands of employees in the industry are negotiating for better pay and working conditions.
Of its 13 unions, the company has reached tentative agreements with nine, which cover about 55% of its unionized workforce, over the past two weeks.
The agreements, which still need to be ratified by the unions, provide a 3.5% average annual wage hike over the next five years and offer more time off for workers and better healthcare benefits.
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