(Reuters) – Norfolk Southern Railroad and BNSF Railroad said on Friday they have reached five-year interim collective bargaining agreements with four unions.
The agreements call for an average wage increase of 3.5% annually over the next five years, more vacation time and some improvements to health care benefits.
The agreements are subject to ratification, and cover approximately 30% of Norfolk Southern The New York Stock Exchange (NYSE:) announced that the strike that began last Friday and included union workers comes four months before the opening of the next round of collective bargaining.
The unions with which the company has reached agreements are the Carmen/TCU Railroad Workers Union, the International Association of Sheet Metal, Air, Rail and Transport Workers – Mechanical Section (SMART-MD) and the Transport and Communications Union/IAM.
Norfolk Southern has also reached tentative agreements with several SMART Transportation Division committees.