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Norfolk Southern (NYSE:NSC) and Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B)-owned BNSF Railway have reached collective bargaining agreements with four labor unions months before the next bargaining round.
Under the deals, participating railroad workers will be entitled to an annual wage increase of 3.5% over the next five years, improved healthcare benefits, and more vacation days in the early part of their careers.
The five-year agreements with unions, including the Brotherhood of Railway Carmen Division/TCU, were announced late Friday.
Norfolk Southern (NSC) has also reached tentative deals with multiple general committees of the transportation division of SMART (the International Association of Sheet Metal, Air, Rail, and Transportation Workers).
Meanwhile, BNSF Railway has also inked a tentative agreement with the American Train Dispatchers Association.
Overall, the deals are expected to cover roughly 30% of Norfolk Southern’s (NSC) unionized workforce and 15% of BNSF’s.
Union members have yet to ratify the tentative agreements, which came four months before the opening of the next bargaining round.
More on Berkshire Hathaway, Norfolk Southern, etc.
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