Canadian National Withdraws Scheduling, Pay Changes in Revised Offer to Teamsters
By Paul Vieira
OTTAWA--Canadian National Railway said Thursday it presented a revised offer to the Teamsters Canada that withdraws an effort to introduce predictable scheduling for workers, and pay based on hours worked rather than miles traveled.
The Montreal-based railroad said the union had rejected this change, so its new offer is based on the current agreement's existing parameters, and would continue to comply with federal rules on minimum rest periods of workers.
According to Canadian National, the company would schedule days off and pay a higher rate for any shift of over 10 hours. Workers would also keep their existing paid days off and vacation entitlement, and get pay raises of 3% this year and 2.5% in 2025.
Canadian National said the average conductor earns 121,000 Canadian dollars a year, or the equivalent of about US$90,000.
Teamsters Canada had not responded to a request for comment.
The union had previously said a strike at Canadian National, and Canadian Pacific Kansas City, could begin on May 22. However, no immediate labor disruption is in the offing as the federal labor-relations board needs to rule--based on a reference from the country's labor minister--on whether the railroads must transport certain goods in the event of a labor dispute. CPKC said Thursday this could delay any labor disruption for about two months.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
May 16, 2024 13:19 ET (17:19 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now