11:40 AM EDT, 10/21/2024 (MT Newswires) -- Norfolk Southern ( NSC ) said Monday it has struck a tentative five-year collective bargaining deal with the International Brotherhood of Electrical Workers union.

The tentative agreement provides for a 3.5% annual average wage increase over the next five years, among other benefits.

The company said the deal is subject to ratification. Since August, Norfolk has reached tentative agreements with 10 of its 13 unions, the company said.

Norfolk shares were down 1.7% in recent trading.

Price: 248.19, Change: -4.18, Percent Change: -1.66