Advertisement
Canada markets closed
  • S&P/TSX

    24,471.17
    +168.91 (+0.70%)
     
  • S&P 500

    5,815.03
    +34.98 (+0.61%)
     
  • DOW

    42,863.86
    +409.74 (+0.97%)
     
  • CAD/USD

    0.7266
    -0.0011 (-0.16%)
     
  • CRUDE OIL

    75.49
    -0.36 (-0.47%)
     
  • Bitcoin CAD

    86,183.92
    +2,775.32 (+3.33%)
     
  • XRP CAD

    0.74
    +0.01 (+0.70%)
     
  • GOLD FUTURES

    2,674.20
    +34.90 (+1.32%)
     
  • RUSSELL 2000

    2,234.41
    +45.99 (+2.10%)
     
  • 10-Yr Bond

    4.0730
    -0.0230 (-0.56%)
     
  • NASDAQ

    18,342.94
    +60.89 (+0.33%)
     
  • VOLATILITY

    20.46
    -0.47 (-2.25%)
     
  • FTSE

    8,253.65
    +15.92 (+0.19%)
     
  • NIKKEI 225

    39,605.80
    +224.91 (+0.57%)
     
  • CAD/EUR

    0.6642
    -0.0011 (-0.17%)
     

Unifor initiates labor negotiations with Canadian National Railway

CN Rail freight depot in Hamilton

(Reuters) - Unifor said on Monday it has initiated labor negotiations with Canadian National Railway, representing more than 3,600 workers.

The union said its bargaining priorities include an improvement in wages, addressing concerns about the pension plan and job security for its members.

Unifor, which represents CN Rail's car technicians and heavy duty mechanics among other workers, said its current collective agreement with the rail operator is set to expire on Dec. 31, 2024.

CN Rail did not immediately respond to a request for comment.

The rail company has already faced a threat of work stoppage this year, by the Teamsters Canada Rail Conference Union in August, until the Canadian government called for a binding arbitration to reach an agreement over a new contract.

Teamsters has filed court challenges against the rulings by the country's industrial labor board that forced them back to work.

CN Rail lowered its profit forecast for 2024 earlier this month, citing the impact of labor stoppages and wildfires in Alberta.

Canada, the world's second-largest country by area, relies heavily on trains to transport a wide range of commodities and goods.

(Reporting by Utkarsh Shetti in Bengaluru and Juby Babu in Mexico City; Editing by Krishna Chandra Eluri)