CN and IBEW Arbitration Concludes with New Collective Agreement
CN (TSX: CNR) (NYSE: CNI) has successfully concluded its arbitration with the International Brotherhood of Electrical Workers (IBEW), finalizing a collective agreement retroactive to January 1, 2022, lasting until December 31, 2024. Key points include a 3% wage increase for the years 2022, 2023, and 2024. Rob Reilly, COO of CN, expressed satisfaction with the resolution, emphasizing a commitment to operational efficiency and customer relations. The IBEW represents around 750 unionized Signals and Communications employees in CN's Canadian operations.
- 3% wage increase for each year from 2022 to 2024.
- Conclusion of arbitration may enhance employee relations.
- Limited direct revenue impact from agreement, as it primarily involves wage adjustments.
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MONTREAL, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Today, CN (TSX: CNR) (NYSE: CNI) announced the conclusion of the arbitration process with the International Brotherhood of Electrical Workers (IBEW). The three-year collective agreement is retroactive to January 01, 2022, and runs through December 31, 2024. The agreement includes a 3 percent wage increase for each of 2022, 2023 and 2024.
“We are satisfied to have concluded this arbitration. We continue to focus on implementing a back to basics approach by running a scheduled operation, aligning capacity with demand and working closely with our customers and stakeholders to maximize the effectiveness and efficiency of the best network in North America.”
- Rob Reilly, Executive Vice-President and Chief Operating Officer, CN
The IBEW represents approximately 750 unionized Signals and Communications employees in CN’s Canadian operations.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 18,600-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
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