Unifor Ratifies New CN Collective Agreements
Rhea-AI Summary
CN (TSX: CNR) (NYSE: CNI) has successfully ratified new four-year collective agreements with Unifor, representing approximately 3,300 employees in Canada across mechanical, clerical, and intermodal functions. The agreements, ratified on December 22, 2024, include 3% annual wage increases and will remain in effect until December 31st, 2028. CN's CEO Tracy Robinson emphasized that these agreements strengthen their workforce and enhance their ability to serve customers reliably across North America.
Positive
- Successful ratification of labor agreements ensuring workforce stability for 4 years
- 3% annual wage increases provide predictable labor costs through 2028
- Agreement covers 3,300 employees across critical operational functions
Negative
- Increased labor costs due to 3% annual wage increases may impact operating margins
News Market Reaction – CNI
On the day this news was published, CNI gained 1.28%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONTREAL, Dec. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its new four-year tentative collective agreements with Unifor were formally ratified by employees on Sunday, December 22, 2024. The union represents approximately 3,300 employees at CN in Canada, working in different mechanical, clerical, and intermodal functions, all covered by multiple collective agreements.
"We are pleased to have achieved these new collective agreements through collaborative negotiations. By working together with Unifor, we now have new agreements that strengthen our workforce and enhance our ability to serve customers reliably across North America. I want to thank both teams for their constructive approach to these negotiations and their shared commitment to CN's long-term success."
- Tracy Robinson, President and Chief Executive Officer, CN
These new four-year agreements include
About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the Gulf of Mexico, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
Contacts:
| Media | Investment Community |
| Jonathan Abecassis | Stacy Alderson |
| Director | Assistant Vice-President |
| Public Affairs and Media Relations | Investor Relations |
| (438) 455-3692 | (514) 399-0052 |
| media@cn.ca | investor.relations@cn.ca |
