CN withdraws lockout notice for 2300 hours local time tonight
MONTREAL, Feb. 23, 2015 /CNW/ - CN (TSX: CNR) (NYSE: CNI) announced today that it has negotiated a tentative labour agreement with the Unifor union. As a result, CN has withdrawn its lockout notice to Unifor, which would have come effective at 2300 hours local time tonight in the absence of a settlement.
Details of the tentative agreement are being withheld pending ratification by Unifor members. The union is expected to announce the results of the ratification vote in the next three weeks.
Claude Mongeau, president and chief executive officer of CN, said: "We are very pleased that the company and union were able to find common ground on a tentative new labour contract. This settlement forecloses the prospect of a potential labour disruption that would have harmed CN's employees, its customers and the Canadian economy."
Unifor represents 4,800 CN employees in four bargaining units at CN – clerical/intermodal; mechanical; CNTL truck owner-operators; and excavator-operators.
CN is a true backbone of the economy, transporting more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network spanning Canada and mid-America. CN – Canadian National Railway Company, along with its operating railway subsidiaries -- serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.
For further information: CN Contacts: Media: Mark Hallman, Director, Communications Relations & Public Affairs, (905) 669-3384; Investment Community: Janet Drysdale, Vice-President, Investor, (514) 399-0052