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
Amazon.com Inc. (AMZN) Thursday reported an increase in profit for the third quarter, driven largely by revenue growth, especially at Amazon Web services. However, shares of the online retailer dropped nearly 5 percent in extended session after its profit fell short of Wall Street estimates. The midpoint... Alphabet Inc., (GOOG, GOOGL), the parent company of Google, Thursday reported a jump in third-quarter profit, largely driven by increase in search and advertising revenues. Earnings and revenues for the quarter trumped Wall Street expectations. Alphabet's third-quarter profit rose to $5.06 billion... Despite scandals and the negative impact from last decade's financial crisis, some of the world's largest banks have emerged stronger than before. According to the latest list from Relbanks.com, Chinese banks continued to dominate the global rankings in 2016 for the biggest banks by assets. However,...
comments powered by Disqus
Follow RTT