CN (TSX:CNR) reached a tentative labour agreement with Unifor late February 23, averting a lockout that would affect 4,800 workers.
Details will not be available until the deal, which was signed around 11 p.m. EST, has been ratified by Unifor members. This vote is expected to take place in the next three weeks after the union holds meetings with its members across the country.
Unifor president Jerry Dias said the union is glad the two parties were able to reach a negotiated agreement and avoid a lockout.
“We were able to find solutions to the concerns raised by our members – this is best achieved at the bargaining table,” he said.
Dias said all Unifor bargaining committees endorsed the agreement.
CN president and CEO Claude Mongeau said the company was happy to have found common ground with Unifor.
“This settlement forecloses the prospect of a potential labour disruption that would have harmed CN’s employees, its customers and the Canadian economy,” Mongeau said.
The union has six collective agreements with the rail giant. The agreements relate to locomotive engineers, truck drivers, mechanics, excavator operators and clerical workers.
