(Calgary) The Canadian Pacific Railway says it has signed a two-year collective agreement with about 3,000 unionized workers.
Posted at 5:26 p.m.
The new agreement is the result of binding arbitration amid concerns about a labor shortage in Canada’s transportation sector.
The agreement covers approximately 3,000 CP engineers, conductors and yard workers represented by the Teamsters Canada Rail Conference.
Calgary-based CP says the deal includes a 3.5 per cent annual wage increase in 2022 and 2023 in addition to improved benefits.
CP says the railroad and Teamsters Canada agreed to go to binding arbitration in March to resolve wage and pension issues.
CP Chief Executive Keith Creel says the company continues to work with its union partners to reach a deal that meets the needs of its workers, customers and the North American supply chain.