The company also plans to grow its revenue at a compound annual growth rate of 5% through 2021. Management. In opening the review, the board cited the East Palestine derailment and other recent incidents in which three workers were killed. We remain committed to the region and (to) serving the needs of our customers.. The recent rise can be attributed to broader market gains with Republicans now lending support on the debt ceiling issue to avoid a national default. MACHINE LEARNING ENGINE try it yourself: IF NSC stock moved by -5% over five trading days, THEN over the next twenty-one trading days NSC stock moves an average of 2%, with a reasonable 64% probability of a positive return over this period. Lance Johnston is among the critics. Get latest news, event information, updates, and more. One GM out and others did somewhat of a swap. He enjoys his job, but could be bumped due to seniority rules that come into play with layoffs. The 25 locomotives that the Juniata workers were assigned are being completed about now, after about eight months, he said. Topics covered: last mile, shipper-carrier relations, and trends in rail, ocean, air, truck, and parcel shipping. Review this company. Save my name, email, and website in this browser for the next time I comment. There was a time when you got furloughed and just played a waiting game to come back. Local elected officials have been discussing with Altoona Blair County Development Corp. how to help, state Sen. Judy Ward, R-Blair, said. Alan Shaw, Norfolk Southerns chief executive, said the railroad would tie some of the pay of executives to its safety record. Norfolk Southern reports first quarter 2023 results; Norfolk Southern to announce Q4 2022 earnings; Norfolk Southern Reports Q4 and Full-year 2022 Results; Norfolk Southern reports third quarter 2022 financial results CSX Despite hiring efforts, employment numbers in 2021 remain below what they were last year when many of the furloughs and layoffs took place. Last month we discussed that based on its historical performanceNorfolk Southern (NYSE: NSC)stock will likely see higher levels, after falling 3% in a week. Jeff DeGraff, NSs media relations manager said This decision is part of our long-term business plans to evolve our operations to best serve the needs of our customers. Overall, Norfolk Southerns coal freight revenues are likely to see continued growth in the near term. Opinions expressed by Forbes Contributors are their own. https://www.thelayoff.com/norfolk-southern?sort=active, Norfolk Southern Corp. Salary/Benefits. There was also some positive data, such as better than expected employment levels in September, that aided the broader sentiment toward railroad stocks, with other companies such as CSX Corporation (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images), Norfolk Southern (NSC) Revenue Comparison, average return for the S&P 500 after a fall or rise, Kansas City Southern vs Canadian Pacific Railway. This layoff follows one on July 9 of this year at the Juniata Locomotive Shop where 86 members of the mechanical team lost their jobs, and 14 unfilled positions were eliminated. For Norfolk Southern, total volume has seen a rise of 18% to around 500K for the nine month period ending Sep 2021. The agency, which enforces whistle-blower protection laws, including those in the rail industry, opened an investigation into 239 of the complaints. A rapid response team will work with PA CareerLink to assist with retraining likely to be part of the deal, she said. Is the average return for Norfolk Southern stock higher over the subsequent month after Case 1 or Case 2? Wondering how does the top-line expansion translate into bottom-line growth? The company could have kept the shop workers busy if it hadnt decided last year to contract out 75 of the 100 locomotives that it is converting from DC to AC power giving only 25 locomotives to Juniata, he said. He will need decent medical coverage, because his wife is on lifesaving meds that otherwise would be unaffordable. Its profit over employee satisfaction.. --Up 12.43% from its 52-week closing low of $239.24 on Sept. 21, 2021 --Traded as high as $270.86; highest intraday level since Feb. 22, 2022, when it hit $272.02 --Up 6.19% at today's intraday high; largest intraday percent increase since Nov. 9, 2020, when it rose as much as 9.26% All data as of 3:15:16 PM ET The prices for both the fuels have seen a spike in 2021, with the U.S. WTI crude averaging $68 per barrel, reflecting 74% growth from the previous year average of $39, and the natural gas price for electricity generators rising more than 2x to $4.99 MMBtu (Metric Million British Thermal Unit), compared to $2.40 average for 2020. Norfolk Southern service deteriorates amid crew shortages, Nov 15, 2021 Any increase would come as NS faces crew issues on two fronts: a lawsuit from two unions claiming the railroad is forcing engineers to work as , https://www.freightwaves.com/news/unions-allege-norfolk-southern-job-cuts-saddled-engineers-with-other-duties, Oct 5, 2021 Two rail unions are alleging that Norfolk Southern has trimmed its workforce so deeply as a result of precision scheduled railroading (PSR) , Feb 19, 2022 Norfolk Southern has recalled 18 Juniata Locomotive Shop workers, following a succession of layoffs in recent times, according to a local , https://www.washingtonpost.com/business/economy/railroads-are-slashing-workers-cheered-on-by-wall-street-to-stay-profitable-amid-trumps-trade-war/2020/01/02/dc757ed4-1603-11ea-a659-7d69641c6ff7_story.html, Jan 3, 2020 Norfolk Southern has let more than 3,500 employees go in the past year, including 175 in Roanoke, part of an aggressive push across the railroad , ALTOONA, Pa. (WTAJ) Norfolk Southern has laid off 100 more employees at the Juniata Locomotive shop in Altoona. "There was more business out there this quarter, there has been more business out there throughout this year that we could not handle," he said on the Q3 earnings call. The job cuts bring the shops complement down to about 400. !function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r