CP Rail signs collective agreement with 3,000 workers IG News

IG news Update,

Canadian Pacific Railway Limited says it has signed a two-year collective agreement with about 3,000 union members.

The new deal comes out of binding arbitration amid concerns over a severe labor shortage in Canada’s transportation sector.

This agreement applies to the approximately 3,000 CP rail locomotive engineers, conductors and yard workers represented by the Teamsters Canada Rail Conference.

Calgary-based CP Rail says this includes annual 3.5 percent wage increases in 2022 and 2023, on top of increased benefits.

Read more: CP Rail sees fall in Q2 profits despite higher revenue

CP Rail says it and Teamsters Canada agreed in March to enter into binding arbitration to resolve issues related to pay and pensions.

CP Rail CEO Keith Creel says the company continues to work with its union partners to reach an agreement that meets the needs of its employees, customers and North American supply chain.

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© 2022 Canadian Press

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