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  "documentTitle": "Norfolk Southern Corporation (NSC)",
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  "authorName": "Move NSC Forward",
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  "presentationDate": "2024-04-15 00:00:00",
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  "notes": "The slide explicitly addresses and preempts the rebuttal that the plan involves firing personnel.",
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      "text": "Rightsizing the headcount will result in ~1,450 personnel reduction in force over three years",
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      "text": "Feb. 2024 Total NSC Employees: 20,891",
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      "text": "Conservative assumption: 3% attrition, approximately $275M in savings, ensures sufficient capacity to handle disruptions and continue to provide reliable service.",
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      "text": "Norfolk Southern has twice as many executives, officials and staff assistants as CSX. Over three years, if attrition remains at historic 7% level, total savings would be $630M. Conservative assumption: 3% attrition, approximately $275M in savings, ensures sufficient capacity to handle disruptions and continue to provide reliable service. The incumbents have claimed, in some conversations, that this plan is based on firing personnel - that is false. Headcount reduction will be achieved through attrition, which normally occurs at a 7% annual rate. The plans and forecasts rely on a conservative 3% attrition assumption.",
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      "text": "CSX headcount is rail-only (from STB filings as of Feb. 2024), CSX excludes Quality.",
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      "text": "Savings From Attrition: Phased Impact Over 36 Months",
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