Baystreet.ca - The Canadian Union of Postal Workers (CUPW) has issued a 72-hour strike notice to Canada Post (NYSE:POST) and is threatening to disrupt deliveries during the busy year-end holidays.
The notice is for both the union’s urban and suburban bargaining units.
In a news release, the union said that its workers will be in a legal strike position as of Nov. 15 and are prepared to walk off the job if current contract negotiations do not improve.
“After almost a year of bargaining, despite our best efforts, the parties remain far apart on many issues,” the union said in a written statement.
Canada Post’s latest contract offer included annual wage increases that totaled 11.5% over four years. It also offered protection of the defined benefit pension plan for current employees.
CUPW rejected the contract proposal as insufficient.
The union announced in October that its members have voted overwhelmingly to support a strike mandate if a deal is not reached at the bargaining table.
A potential strike comes as Canada Post ramps up for the year-end holidays when parcel shipments and mail tend to peak each year.