01:35:08 EDT Thu 16 May 2024
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or Name
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CA



Canadian Pacific Kansas City Ltd
Symbol CP
Shares Issued 932,130,131
Close 2024-02-20 C$ 114.79
Market Cap C$ 106,999,217,737
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Globe/CP say union talks at CN, CPKC ground to a halt

2024-02-20 08:30 ET - In the News

See In the News (C-CNR) Canadian National Railway Company

The Globe and Mail reports in its Tuesday edition that the union that represents approximately 9,300 workers at Canada's two largest railways is worried about public safety as contract negotiations have come to a standstill. A Canadian Press dispatch to The Globe reports that Teamsters Canada president Francois Laporte says Canadian National Railway and Canadian Pacific Kansas City have put forward non-negotiable demands. They aim to remove all safety-critical rest provisions from the collective agreements, which are essential to combat train crew fatigue and ensure the safety of the public. Mr. Laporte has also expressed his eagerness to reach a settlement, but their demands are non-starters for the Teamsters. As a result, a work stoppage looms, the union has warned. On Friday, CN and CPKC requested that the federal Labour Minister appoint a conciliator to oversee the bargaining process for a new collective agreement for train conductors, engineers and yard workers. The notice of dispute starts the clock on a possible strike or lockout, which could occur as soon as 81 days after the request, in early May. CN says recent regulatory changes to rest provisions have made it harder to find available crews.

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