CP Rail Union Agreement: What You Need to Know
Canadian Pacific Railway (CP Rail) and its employees have reached a new collective agreement after months of negotiations. The agreement was ratified on May 14, 2021, bringing an end to the possibility of a strike that had loomed over the railway industry in Canada.
Here`s everything you need to know about the CP Rail union agreement.
The new agreement covers approximately 3,000 conductors and locomotive engineers who are members of the Teamsters Canada Rail Conference (TCRC). The agreement is retroactive to January 1, 2021, and will expire on December 31, 2025.
The agreement includes wage increases, improved working conditions, and changes to various benefits. Specifically, the agreement includes:
– Wage increases of 2.5% per year for conductors and locomotive engineers for the life of the agreement.
– Changes to the health and welfare benefits plan, including the introduction of a new prescription drug plan.
– A change to the structure of the pension plan, with a new defined contribution pension plan replacing the previous defined benefit plan.
– The creation of a new „rainy day” fund for employees affected by layoffs or reductions in hours.
Negotiations between CP Rail and the TCRC began in November 2020, with the previous agreement expiring on December 31, 2020. Talks stalled in December, leading to the possibility of a strike. However, federal mediators were brought in to assist with the negotiations in January, ultimately leading to a tentative agreement in April.
The Ratification Vote
The agreement was subject to a ratification vote by TCRC members, with ballots being cast between May 6 and May 14, 2021. The ratification vote saw 98.1% of members vote in favor of the agreement, with a voter turnout of approximately 77%.
Impact on the Industry
A strike by CP Rail employees, particularly conductors and locomotive engineers, would have had a significant impact on the railway industry in Canada. CP Rail is one of two major railway companies in Canada, and a strike would have disrupted the transportation of goods across the country.
The agreement brings stability to CP Rail and the railway industry as a whole, helping to ensure the smooth transportation of goods across the country.
The new CP Rail union agreement is a positive development for both CP Rail and its employees. With the agreement now ratified, conductors and locomotive engineers can continue to perform their critical roles in the transportation of goods across Canada, while also receiving beneficial improvements such as increased wages and improved working conditions.
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