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CSAFE Global

 

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CP 2Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced a new two-year collective agreement with the Teamsters Canada Rail Conference (TCRC) – Train and Engine following binding arbitration.

The new agreement includes a 3.5 percent wage increase in 2022 and 2023 and increased benefits. Under the arbitration decision, the TCRC will also join a CP Pension Improvement Account. The new collective agreement runs through 2023.

"CP welcomes the conclusion of arbitration and is pleased to have completed this agreement with the TCRC Negotiating Committee," said CP President and CEO Keith Creel. "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."

TCRC represents approximately 3,000 locomotive engineers, conductors, train and yard workers across Canada.

CP and TCRC agreed to enter binding arbitration in March 2022 to resolve outstanding matters as part of a new collective agreement, including wages and pensions.

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