Binding arbitration has resulted in a new two-year contract agreement between CP Rail and its workers.
CP announced the deal with Teamsters Canada Rail Conference (TCRC) earlier this week, one that includes a 3.5% wage increase in 2022 and 2023 and increased benefits. Under the arbitration decision, the TCRC – which represents approximately 3,000 locomotive engineers, conductors, train and yard workers across Canada - will also join a CP Pension Improvement Account.
The agreement runs through 2023.
"CP welcomes the conclusion of arbitration and is pleased to have completed this agreement with the TCRC Negotiating Committee," CP President and CEO Keith Creel said in a release. "We continue to work with our union partners to reach agreements that meet the needs of our industry-leading railroaders and allow us to grow our business as we provide essential services for our customers and the North American supply chain."
After about a two-day work stoppage earlier this year that riled Canadian farmers and agri-businesses, CP and TCRC agreed to enter binding arbitration in March 2022 to resolve outstanding matters, including wages and pensions.
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