logo
Share SHARE
FONT-SIZE Plus   Neg

New Flyer Reveals Winnipeg Union Ratification Of New Collective Agreement

Heavy-duty transit vehicles maker New Flyer Industries Inc. (NFI.TO, NFI_UN.TO) announced Saturday that members of the Canadian Auto Workers main collective bargaining unit at the Winnipeg facility have ratified a new collective bargaining agreement.

The company said the new three-year contract will commence on April 1, 2012, and will expire on March 31, 2015, and replaces the previous three-year agreement that expires today.

"This new collective agreement is representative of the strong and continued partnership between New Flyer and the CAW. I would like to thank the CAW, their membership and the New Flyer team for a negotiation that was done professionally, constructively and efficiently by both parties", said the company's CEO Paul Soubry.

Under the terms of the new collective bargaining agreement there is no wage increase in year one of the agreement, however, each bargaining unit employee will receive a C$800 signing bonus. The agreement provides annual increases of 2.0% and 2.25% in years two and three of the agreement, respectively.

The agreement also reduces entry level wage scales and freezes them for new employees during the term of the agreement. The parties have agreed to a 2.5% increase in pension benefits per year of credited service, effective in year three of the agreement, in addition to certain other benefit enhancements.

The Winnipeg plant's unionized workforce represents about 32 percent of New Flyer's total workforce in Canada and the United States.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tesla's next electric car Model 3 is aimed at the masses with a price tag that could go below $30,000. Tesla CEO Elon Musk, during an earnings call, confirmed that the Model 3 will start selling for "around $35k," and reservations will start from March 31 in Tesla stores and online on April 1 for... Advanced Disposal Services Inc. joins the growing list of companies to postpone their initial public offering amid the volatility in stock markets. Breakfast and snack food giant Kellogg Co. on Thursday reported a loss for the fourth quarter that narrowed from last year as lower revenues were more than offset by a decline in costs and expenses. Adjusted earnings per share for the quarter topped analysts' estimates, while revenue fell short of expectations. Looking ahead, the company affirmed its financial outlook for fiscal 2016.
comments powered by Disqus
Follow RTT