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Canadian National And Teamsters Reach Deal To End Strike

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Canadian National And Teamsters Reach Deal To End Strike

Canadian National (NYSE: CNI) and the Teamsters reached a tentative agreement to end the rail strike by about 3,200 rail workers.

Normal rail operations resume at 6 a.m. tomorrow, Nov. 27, Teamsters Canada and CN said in on Nov. 26. 

"We want to thank our customers for their patience and support and assure them that CN is preparing to resume full rail operations as soon as possible," said CN CEO JJ Ruest said in a statement.

CN conductors, transpersons and yard workers went on strike on Nov. 19. The strike has hit supply chains across Canada, bringing trade disruptions, goods shortages and layoffs. 

Canadian National's stock plunged after the strike began on Nov. 19.

The tentative agreement must be approved by Teamsters' members. 

Details of the agreement have not been disclosed. But the CN workers have pushed for changes in working conditions, citing safety concerns, in addition to better benefits. 

"I would like to thank our members for their incredible courage and solidarity," said Teamsters Canada President François Laporte said in a statement.

The agreement followed the release of a recording that the Teamsters said was an exchange between a CN supervisor and a conductor, in a dispute over the continued operation of a train despite the crew reporting fatigue.

Image Sourced from Pixabay

 

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