STOCK TITAN

CPKC reaches tentative collective agreement with United Steelworkers

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags

Canadian Pacific Kansas City (CP) has announced reaching a tentative four-year collective agreement with the United Steelworkers (USW), representing approximately 600 clerical and intermodal employees in Canada. This marks CP's third tentative agreement in Canada this year.

CPKC President and CEO Keith Creel emphasized that the agreement benefits railroaders and their families while enabling the company to continue serving customers efficiently and supporting Canadian economic growth. The specific details of the agreement will remain confidential until ratification.

Canadian Pacific Kansas City (CP) ha annunciato di aver raggiunto un accordo collettivo provvisorio di quattro anni con gli United Steelworkers (USW), che rappresenta circa 600 impiegati amministrativi e intermodali in Canada. Questo segna il terzo accordo provvisorio di CP in Canada quest'anno.

Il Presidente e CEO di CPKC, Keith Creel, ha sottolineato che l'accordo è vantaggioso per i ferrovieri e le loro famiglie, consentendo all'azienda di continuare a servire i clienti in modo efficiente e sostenendo la crescita economica canadese. I dettagli specifici dell'accordo rimarranno riservati fino alla ratifica.

Canadian Pacific Kansas City (CP) ha anunciado que ha alcanzado un acuerdo colectivo provisional de cuatro años con los United Steelworkers (USW), que representa aproximadamente a 600 empleados administrativos e intermodales en Canadá. Este es el tercer acuerdo provisional de CP en Canadá este año.

El Presidente y CEO de CPKC, Keith Creel, enfatizó que el acuerdo beneficia a los trabajadores ferroviarios y a sus familias, al tiempo que permite a la empresa seguir atendiendo a los clientes de manera eficiente y apoyando el crecimiento económico canadiense. Los detalles específicos del acuerdo permanecerán en confidencialidad hasta la ratificación.

캐나다 태평양 캐나다 시티(CP)유니언 스틸워크스(USW)와의 잠정적 4년 단체 협약을 체결했다고 발표했습니다. 이 협약은 약 600명의 사무직 및 인터모달 직원들을 대표합니다. 올해 CP의 캐나다에서의 세 번째 잠정 합의입니다.

CPKC의 사장 겸 CEO인 키스 크릴은 이 협약이 철도 노동자와 그 가족에게 혜택을 주며, 회사가 고객을 효율적으로 서비스하고 캐나다 경제 성장을 지원할 수 있도록 한다고 강조했습니다. 협약의 구체적인 내용은 비공개로 남아있을 것이며, 비준될 때까지 공개되지 않을 것입니다.

Canadian Pacific Kansas City (CP) a annoncé avoir atteint un accord collectif provisoire de quatre ans avec les United Steelworkers (USW), représentant environ 600 employés administratifs et intermodaux au Canada. C'est le troisième accord provisoire de CP au Canada cette année.

Le président et PDG de CPKC, Keith Creel, a souligné que l'accord est bénéfique pour les cheminots et leurs familles tout en permettant à l'entreprise de continuer à servir ses clients de manière efficace et à soutenir la croissance économique canadienne. Les détails spécifiques de l'accord resteront confidentiels jusqu'à sa ratification.

Canadian Pacific Kansas City (CP) hat angekündigt, ein vorläufiges kollektives Abkommen über vier Jahre mit den United Steelworkers (USW) erreicht zu haben, das etwa 600 Büro- und intermodale Mitarbeiter in Kanada vertritt. Dies ist das dritte vorläufige Abkommen von CP in Kanada in diesem Jahr.

Der Präsident und CEO von CPKC, Keith Creel, betonte, dass das Abkommen den Eisenbahnern und ihren Familien zugutekommt und dem Unternehmen ermöglicht, die Kunden effizient zu bedienen und das wirtschaftliche Wachstum Kanadas zu unterstützen. Die spezifischen Einzelheiten des Abkommens bleiben bis zur Ratifikation vertraulich.

Positive
  • Third successful labor agreement reached in Canada this year
  • Four-year agreement provides labor stability
  • Agreement covers 600 employees, ensuring operational continuity
Negative
  • None.

Insights

This tentative agreement with the United Steelworkers represents a significant strategic achievement for CPKC, marking their third successful labor negotiation in Canada this year. The four-year term, if ratified, provides extended operational stability for a critical segment of CPKC's workforce - the 600 clerical and intermodal employees who play an essential role in the company's day-to-day operations.

The timing and succession of these agreements demonstrate CPKC's proactive approach to labor relations, particularly important following the complex integration process after the CP-KCS merger. By securing multiple agreements early in 2025, CPKC is effectively de-risking its operational environment and strengthening its competitive position in the North American rail market.

The agreement's significance extends beyond immediate labor stability. It indicates healthy industrial relations in CPKC's Canadian operations, which is particularly noteworthy given the challenging labor environment in the transportation sector. This positive momentum could provide CPKC with a competitive advantage in operational reliability and customer service, potentially supporting volume growth and market share gains in the highly competitive North American rail market.

CALGARY, AB, Feb. 5, 2025 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today said it has reached a tentative four-year collective agreement with United Steelworkers (USW) representing clerical and intermodal employees in Canada.

"We are very pleased to have reached another collective agreement at the bargaining table, our third tentative agreement this year in Canada," said Keith Creel, CPKC President and Chief Executive Officer. "Working together with the United Steelworkers, we've come to a tentative agreement that is good for our railroaders and their families. With this and other recent agreements, we can continue our work safely and efficiently serving our customers, enabling growth and prosperity in the Canadian economy."

USW represents approximately 600 employees in Canada.

Details of the tentative collective agreement will not be released publicly until the agreement has been ratified.

About CPKC
With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of México to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC. CP-IR

CPKC Logo (CNW Group/CPKC)

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cpkc-reaches-tentative-collective-agreement-with-united-steelworkers-302368287.html

SOURCE CPKC

FAQ

What is the duration of CPKC's new collective agreement with United Steelworkers?

The tentative collective agreement with United Steelworkers is for a four-year term.

How many employees are covered under CPKC's new USW agreement?

The agreement covers approximately 600 clerical and intermodal employees in Canada represented by United Steelworkers.

How many collective agreements has CP reached in Canada in 2025?

This is CPKC's third tentative collective agreement reached in Canada in 2025.

When will the details of CPKC's USW agreement be made public?

The details of the collective agreement will not be released publicly until after the agreement has been ratified.

Canadian Pacific Kansas City Limited

NYSE:CP

CP Rankings

CP Latest News

CP Stock Data

72.96B
933.05M
0.03%
75.75%
1%
Railroads
Railroads, Line-haul Operating
Link
Canada
CALGARY ALBERTA