Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

UPDATE 2-Unions agree to postpone Saturday strike at Canadian Pacific

Published 2018-04-20, 08:46 p/m
Updated 2018-04-20, 08:46 p/m
© Reuters.  UPDATE 2-Unions agree to postpone Saturday strike at Canadian Pacific

(Adds strike postponed)

By Allison Lampert and Julie Gordon

MONTREAL/VANCOUVER April 20 (Reuters) - Canadian Pacific Railway Ltd CP.TO and unions Teamsters Canada and International Brotherhood of Electrical Workers (IBEW), reached an agreement with to postpone a strike that was scheduled for Saturday.

The unions said Friday the decision was made after Canadian Labour Minister Patty Hajdu agreed with Canadian Pacific's request to order a vote on a final offer regarding the company's renewal of their agreements with the unions.

"CP succeeded in delaying the inevitable," the unions said in a statement.

Both unions, which represent more than a quarter of Canadian Pacific's workforce, asked its members to reject the company offers.

"Once our members reject their final offer, CP will have exhausted all possible escape routes and they will face their workers once again," the unions said.

Teamsters and IBEW are seeking a variety of changes including predictable schedules to combat fatigue.

Canadian Pacific said there will be no disruption to the commuter rail companies operating on CP's network and it will be able to continue to provide freight service.

"I want to thank the leadership of the (Teamsters), IBEW, and Federal Mediation and Conciliation Service for their hard work, collaboration and openness to getting this situation resolved without a work stoppage," said CEO Keith Creel.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.