(The Associated Press circulated the following on September 17.)
NEW YORK — Railroad operator Norfolk Southern Corp. expects to account for lump sum payments to its engineers under a new labor agreement in the third quarter.
The Norfolk, Virginia-based company said in a regulatory filing Wednesday it expects unspecified adjustments to largely offset the impact on the quarter.
The news comes a day after Norfolk Southern announced the new six-year agreement with the Brotherhood of Locomotive Engineers and Trainmen. Some 5,000 engineers stand to get raises averaging 3.2 percent annually.
The agreement also includes a $1,200 signing bonus Dec. 1 and a $3,500 bonus Jan. 1.
Norfolk Southern operates about 21,000 miles of track in Virginia, 21 other states and the District of Columbia