NORFOLK, Va. (AP) -- 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.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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