(Norfolk Southern issued the following news release on November 7. More details to come next week.)
NORFOLK, Va. — Norfolk Southern Railway Co. and the Brotherhood of Locomotive Engineers (BLE) have reached a new agreement, with terms through 2009, that continues to link engineers’ compensation to Norfolk Southern’s corporate performance.
The agreement provides engineers with an annual bonus opportunity based on the same financial performance criteria that determines management bonuses. The BLE has participated in NS’ bonus program since 1996.
Other highlights of the agreement include wage increases in 2005 and 2007, enhancements to the BLE’s 401k plan and incentive pay for weekend/holiday work.
BLE General Chairman R.C. Wallace said, “We want to take the lead in helping NS become more customer-focused and more successful. We expect to show results that will trigger even higher bonus payments.”
NS Senior Vice President Administration Jim Hixon said, “This agreement continues our cooperative and mutually beneficial partnership. By resolving the contract issues now, we will be able to focus our combined energies on improving operating efficiency and customer service on the railroad.”
BLE General Chairman L.W. Sykes added, “Engineers have a dramatic impact on the success of NS’ operations. This agreement allows our members to prosper by helping NS to prosper.”
BLE General Chairman W.E. Knight said, “The bonus program has proven financially beneficial to our members. We all need to work hard to ensure the success of the program continues.”