CN Points Lockout Discover to Teamsters

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Railroad Continues to Safely Shutdown Canadian Rail Community as Events Stay Far Aside

MONTREAL, Aug. 18, 2024 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) has issued discover to the Teamsters Canada Rail Convention (TCRC) formally advising them of its intention to lockout Canadian TCRC-represented staff on Aug. 22 at 00:01 ET except an settlement or binding arbitration is achieved earlier than that point.

Regardless of negotiations over the weekend, no significant progress has occurred, and the events stay very far aside.

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Until there’s an instantaneous and particular decision to the labour battle, CN could have no selection however to proceed the phased and progressive shutdown of its community which might culminate in a lockout.

CN should proceed with the progressive and deliberate shutdown of its community, as we stay below the specter of an unpredictable strike discover. This deliberate shut down helps to make sure the protection of the communities during which we function and the protection of our prospects’ items, and to optimize the community’s restoration following a labour disruption. Further embargoes will likely be issued on Monday August 19^th.

Background on 2024 Negotiations and Presents
In January, CN provided the TCRC a modernized settlement that improved security, wages, and work/life stability whereas defending acquired rights. This supply was refused.

The supply was then improved in April with a concentrate on higher wages (75$/hour for Locomotive Engineers and 65$/hour for Conductors), job safety, and assured earnings for workers. The TCRC refused the improved supply.

In Might, CN then offered a simplified supply throughout the framework of the present collective settlement with improved wages and predictable days off, which the TCRC additionally refused.

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Within the absence of a path ahead, CN provided to voluntarily undergo binding arbitration in June. Binding arbitration is a course of the place each events empower a mutually agreed upon impartial arbitrator to find out the phrases of a settlement. It’s an neutral strategy that will obtain a decision whereas avoiding a pricey disruption to provide chains, Canadian customers, and the Canadian financial system. The TCRC refused this supply.

The entire info relating to the gives, together with particulars on the proposed wages, relaxation, and labour availability, is obtainable publicly right here.

Present Relaxation and Wages
Relaxation:

• By combining Responsibility and Relaxation Interval Guidelines (DRPR), paid sick days, private depart days, and current relaxation and trip provisions of their collective agreements, conductors and locomotive engineers at the moment work roughly 160 days a yr.

Wages:

• In 2023, the typical conductor earned roughly $121,000, not together with pension and medical advantages.
• In 2023, the typical locomotive engineer earned roughly $150,000, not together with pension and medical advantages.

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About Embargoes
Railroads subject embargoes when, within the judgement of the railroad, an precise or threatened bodily or operational impairment, of a brief nature, warrant restrictions towards such actions. It’s significantly essential within the occasion of labor disruption to forestall delicate and harmful items to be stranded on the community. The embargoes are efficient inside 48 hours of being issued.

Any product coming to, leaving, or shifting inside Canada on rail is not going to be transported throughout a piece stoppage. Solely restricted prepare actions inside yards will likely be executed as there should not sufficient licensed administration prepare crews to make sure intercity prepare actions.

Ought to a settlement be reached, or arbitration be agreed to, CN will take away its embargoes and resume regular operations.

CN Ahead-Wanting Statements
Sure statements by CN included on this information launch represent “forward-looking statements” throughout the that means of america Non-public Securities Litigation Reform Act of 1995 and below Canadian securities legal guidelines. By their nature, forward-looking statements contain dangers, uncertainties and assumptions. CN cautions that its assumptions might not materialize and that present financial circumstances render such assumptions, though cheap on the time they had been made, topic to better uncertainty. Ahead-looking statements could also be recognized by means of terminology reminiscent of “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or different comparable phrases. Ahead-looking statements replicate info as of the date on which they’re made. CN assumes no obligation to replace or revise forward-looking statements to replicate future occasions, modifications in circumstances, or modifications in beliefs, except required by relevant securities legal guidelines. Within the occasion CN does replace any forward-looking assertion, no inference ought to be made that CN will make extra updates with respect to that assertion, associated issues, or another forward-looking assertion.

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About CN
CN powers the financial system by safely transporting greater than 300 million tons of pure assets, manufactured merchandise, and completed items all through North America yearly for its prospects. With its almost 20,000-mile rail community and associated transportation companies, CN connects Canada’s Japanese and Western coasts with the U.S. Midwest and the Gulf of Mexico, contributing to sustainable commerce and the prosperity of the communities during which it operates since 1919.

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