Canadian Pacific Railway and the Teamsters Canada Rail Conference (TCRC) say they have reached a two-year agreement following binding arbitration.
CP and the TCRC, which represents approximately 3,000 locomotive engineers, conductors, train and yard workers across Canada, agreed to enter binding arbitration in March 2022 after they were unable to reach a deal due to outstanding issues around wages and pensions.
CP says the new agreement includes a 3.5 percent wage increase in 2022 and 2023 and increased benefits.
“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.”
Canada’s other main railway – CN Rail – is currently without an agreement with the TCRC, which also represents more than 3,000 CN employees. The railway’s three-year deal with the union expired in July. As of last week, the two sides had not started the collective bargaining process.