Norfolk Southern said it implemented a package of reforms earlier this month that are designed to help it operate the railroad on a tighter schedule and move more freight with fewer people. The reforms are similar in concept to what all the major U.S. freight railroads have implemented over the past two years.
Norfolk Southern took a more deliberate approach to the reforms than some other railroads have, including holding 19 town hall meetings with employees and customers beforehand.
The railroad is in the process of building a new headquarters in Atlanta. Norfolk Southern operates about 20,000 miles of track in 22 states and the District of Columbia.
In morning trading, Norfolk Southern shares slipped 3.5% to $189.88.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NSC at https://www.zacks.com/ap/NSC