Canadian Pacific Kansas City (CP,CP.TO) announced that an arbitrator has ruled on new collective bargaining agreements for the Teamsters Canada Rail Conference or TCRC - Train and Engine or T&E division and the TCRC - Rail Canada Traffic Controllers (RCTC) division.
Arbitrator William Kaplan issued his decision following multiple rounds of mediation and the conclusion of the interest arbitration process. The ruling establishes terms for new four-year contracts covering both TCRC bargaining units.
TCRC - T&E represents approximately 3,200 locomotive engineers, conductors, train, and yard workers across Canada, while TCRC - RCTC represents around 80 rail traffic controllers nationwide.
Effective from January 1, 2024, through December 31, 2027, the new agreements include annual wage increases of 3%. The arbitrator's award does not require ratification.
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